MPFA welcomes fee reduction made by Principal
*********************************************

The following is issued on behalf of the Mandatory Provident Fund Schemes Authority:

     The Mandatory Provident Fund Schemes Authority (MPFA) today (November 22) welcomed the initiative made by Principal Trust Company (Asia) Limited to reduce the management fees of its Capital Preservation Fund, Hong Kong Dollar Savings Fund and US Dollar Savings Fund under its MPF Scheme Series 600 and 800 to benefit its scheme members.  MPFA looks forward to having MPF trustees follow suit to lower fees of other types of MPF funds so that more scheme members can benefit.

Ends/Thursday, November 22, 2007
Issued at HKT 18:20

NNNN