Hong Kong Monetary Authority Exchange Fund Notes Tender Result
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The following is issued on behalf of the Hong Kong Monetary Authority:


Tender date                      :   August 14, 2007

Paper on offer                   :   EF Notes

Issue number                     :   02Y0908

Issue date                       :   August 15, 2007

Maturity date                    :   August 17, 2009

Coupon rate                      :   4.25%

Competitive Tender Result

Amount applied                   :   HK$2,620 MN

Amount allotted                  :   HK$999.4 MN

Average price accepted (yield)   :   100.47 (4.05%)

Lowest price accepted (yield)    :   100.43 (4.07%)

Pro rata ratio                   :   About 98%

Average tender price (yield)     :   100.42 (4.07%)


Non-competitive Tender Results (for applications submitted through Hong Kong Securities Clearing Company Limited)

Amount applied                   :   HK$0.6 MN

Amount allotted                  :   HK$0.6 MN

Allotment Price (yield)          :   100.43 (4.07%)


Non-competitive Tender Results (for applications submitted through Retail Exchange Fund Notes Distributors under the Retail Exchange Fund Notes Programme)

Amount applied                   :   HK$273.5 MN

Amount allotted                  :   HK$200 MN

Allotment Price (yield)          :   100.43 (4.07%)

Pro rata ratio                   :   About 64%

Ends/Tuesday, August 14, 2007
Issued at HKT 15:03

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