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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                      :  May 14, 2008

Paper on offer                  :  EF Notes

Issue number                    :  02Y1005

Issue date                      :  May 15, 2008

Maturity date                    :  May 17, 2010

Coupon                          :  1.77%

Competitive Tender Result

Amount applied                  :  HK$2,760 MN

Amount allotted                  :  HK$1,200 MN

Average price accepted (yield)  :  99.64 (1.96 PCT)

Lowest price accepted (yield)    :  99.60 (1.98 PCT)

Pro rata ratio                  :  About 40%

Average tender price (yield)    :  99.55 (2.01 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/Wednesday, May 14, 2008
Issued at HKT 12:26

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