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                      :  February 19, 2008

Paper on offer                  :  EF Notes

Issue number                    :  15Y2302

Issue date                      :  February 20, 2008

Maturity date                    :  February 20, 2023

Coupon                          :  2.71%

Competitive Tender Result

Amount applied                  :  HK$950 MN

Amount allotted                  :  HK$600 MN

Average price accepted (yield)  :  94.32 (3.22 PCT)

Lowest price accepted (yield)    :  93.70 (3.27 PCT)

Pro rata ratio                  :  About 50%

Average tender price (yield)    :  93.87 (3.26 PCT)


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

Amount applied                  :  0

Amount allotted                  :  0

Allotment Price (yield)          :  Nil

Ends/Tuesday, February 19, 2008
Issued at HKT 12:40

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