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

Tender date                      :   December 18, 2008

Paper on offer                   :   EF Notes

Issue number                     :   05Y1312

Issue date                       :   December 19, 2008

Maturity date                    :   December 19, 2013

Coupon                           :   1.67%

Competitive Tender Result

Amount applied                   :   HK$3,560 MN

Amount allotted                  :   HK$1,000 MN

Average price accepted (yield)   :   102.03 (1.25 PCT)

Lowest price accepted (yield)    :   101.90 (1.28 PCT)

Pro rata ratio                   :   About 55 PCT

Average tender price (yield)     :   101.64 (1.33 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


* * * * * * * * * *


Tender date                      :   December 18, 2008

Paper on offer                   :   EF Notes

Issue number                     :   5112
                                     (Re-opening issue)

Issue date                       :   December 19, 2008

Maturity date                    :   December 19, 2011

Coupon                           :   3.63%

Competitive Tender Result

Amount applied                   :   HK$3,360 MN

Amount allotted                  :   HK$1,200 MN

Average price accepted (yield)   :   107.96 (0.93 PCT)

Lowest price accepted (yield)    :   107.85 (0.97 PCT)

Pro rata ratio                   :   About 66 PCT

Average tender price (yield)     :   107.51 (1.08 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/Thursday, December 18, 2008
Issued at HKT 12:45

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