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Date and time (G.M.T.) telegram should
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28/3/69
коз
THER
NOTHING TO BE WRITTEN IN THIS MA
28/3
Security classification
cation]
PRIVACY MARKING
In Confulence
[Secu
En Clair. Gode
[
Cyphery
Draft Telegram to:-
No.
Governer Hong Kong
208 (Dale) 28 Marel
And to:-
Repeat to:-
Saving to:-
08/0
Distribution:-
Files For Enten Deptt.
IPAD wivern Zevropian deply. Export Promotion dapet.
Copies to: Vi A. Ealoworthy. Hi J. Moraton. PS to hard Shepherd
K.W
15157987 MinCo Herifl
abré
Export Credit Euarantie
overleef dist Dabth.
J. Gowers (1 047)
-if any
Privacy marking -if any
[Codeword if any]
Addressed to.
telegram No......
And to
]
repeated for information to
Saving to.
(date)
For Cowperthwaite from Carter.
Your telegram no. 257.
Cross Harbour Tunnel]
has represented
CONFIDENTIAL
KONG]
HONG KUI
Hannam's point is that there is political risk
in tunnel negotiations once again becoming a matter of
public and press discussion before outcome is certain.
We take his point but for the reasons given below we
consider the balance of advantages lies in your making
a statement along the lines you propose. But after
consultation with ECGD we recommend that press
release takes the following slightly amended form.
"Government has informed the Cross Harbour
Tunnel Company Limited today that it is prepared to subscribe 25% of the Company's share capital up to a maximum of $HK272 million and to give (with other shareholders) a counter- guarantee of its proportionate share of a British bank loan of approximately £12 million to be guaranteed by ECGD. Government's agreement is conditional on the formal approval
joF