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                    :   December 17, 2010

Paper on offer                 :   EF Notes

Issue number                   :   05Y1512

Issue date                     :   December 20, 2010

Maturity date                  :   December 21, 2015

Coupon                         :   1.52

Competitive Tender Result

Amount applied                 :   HK$3,750 MN

Amount allotted                :   HK$1,000 MN

Average price accepted (yield) :   98.36 (1.87 PCT)

Lowest price accepted (yield)  :   98.24 (1.90 PCT)

Pro rata ratio                 :   About 60 PCT

Average tender price (yield)   :   98.13 (1.92 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 17, 2010

Paper on offer                 :   EF Notes

Issue number                   :   05Y1312
                                  (Re-opening issue)

Issue date                     :   December 20, 2010

Maturity date                  :   December 19, 2013

Coupon                         :   1.67%

Competitive Tender Result

Amount applied                 :   HK$6,530 MN

Amount allotted                :   HK$1,200 MN

Average price accepted (yield) :   101.84 (1.05 PCT)

Lowest price accepted (yield)  :   101.80 (1.06 PCT)

Pro rata ratio                 :   About 70 PCT

Average tender price (yield)   :   101.59 (1.13 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/Friday, December 17, 2010
Issued at HKT 12:48

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