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                 :   January 23, 2009

Paper on offer              :   EF Bills

Issue number                :   M0902

Issue date                  :   January 29, 2009

Maturity date               :   February 20, 2009

Amount applied              :   HK$2,800 MN

Amount allotted             :   HK$600 MN

Average yield accepted      :   0.06 PCT

Highest yield accepted      :   0.06 PCT

Pro rata ratio              :   About 25 PCT

Average tender yield        :   0.08 PCT

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Tender date                 :   January 23, 2009

Paper on offer              :   EF Bills

Issue number                :   Q0904

Issue date                  :   January 29, 2009

Maturity date               :   April 29, 2009

Amount applied              :   HK$28,100 MN

Amount allotted             :   HK$4,229 MN

Average yield accepted      :   0.11 PCT

Highest yield accepted      :   0.11 PCT

Pro rata ratio              :   About 21 PCT

Average tender yield        :   0.12 PCT

* * * * * * * * * * * * * * * * * * * * * * * * *

Tender date                 :   January 23, 2009

Paper on offer              :   EF Bills

Issue number                :   H0956

Issue date                  :   January 29, 2009

Maturity date               :   July 29, 2009

Amount applied              :   HK$5,900 MN

Amount allotted             :   HK$1,300 MN

Average yield accepted      :   0.17 PCT

Highest yield accepted      :   0.18 PCT

Pro rata ratio              :   About 47 PCT

Average tender yield        :   0.21 PCT

Ends/Friday, January 23, 2009
Issued at HKT 15:16

NNNN