********************************************************
Tender date :May 12 2006
Paper on offer :EF Notes
Issue number :2805
Issue date :May 15 2006
Maturity date :May 15 2008
Coupon rate :4.30%
Competitive Tender Result
Amount applied :HK$4,182 MN
Amount allotted :HK$1,000 MN
Average price accepted (yield):100.25 (4.21%)
Lowest price accepted (yield) :100.20 (4.24%)
Pro rata ratio :About 1%
Average tender price (yield) :100.16 (4.26%)
Non-competitive Tender Results
Amount applied :HK$277 MN
Amount allotted :HK$200 MN
Allotment Price (yield) :100.20 (4.24%)
Pro rata ratio :About 61%
Ends/Friday, May 12, 2006
Issued at HKT 12:40
NNNN