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

Tender date            :       15 January 2008

Paper on offer         :       EF Bills

Issue number           :       Q0802

Issue date             :       16 January 2008

Maturity date          :       16 April 2008

Amount applied         :       HK$8,400 MN

Amount allotted        :       HK$2,123 MN

Average yield accepted :       1.92 PCT

Highest yield accepted :       1.95 PCT

Pro rata ratio         :       About 96 PCT

Average tender yield   :       2.08 PCT

* * * * * * * * * *

Tender date            :       15 January 2008

Paper on offer         :       EF Bills

Issue number           :       H0855

Issue date             :       16 January 2008

Maturity date          :       16 July 2008

Amount applied         :       HK$3,250 MN

Amount allotted        :       HK$1,300 MN

Average yield accepted :       1.98 PCT

Highest yield accepted :       2.02 PCT

Pro rata ratio         :       About 50 PCT

Average tender yield   :       2.13 PCT

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Hong Kong Monetary Authority
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Tenders to be held in the week beginning ¡V 21 Jan 2008:-


Tender date            :         22 January 2008

Paper on offer         :         EF Bills

Issue number           :         Q0803

Issue date             :         23 January 2008

Maturity date          :         23 April 2008

Tenor                  :         91 Days

Amount on offer        :         HK$1,975 MN

Ends/Tuesday, January 15, 2008
Issued at HKT 12:20

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