- 11 -

Hong Kong Monetary Authority money market operations

Time

Cumulative

Change

$ Million

(Hours)

($ Million)

Opening Balance in the account

2,179

09:30

+348

Closing Balance in the account

797

10:00

+348

Change Attributable to:

11:00

+348

Money Market Activity

+348

11:30

+348

Laf Today

-1,730

15:00

Laf Rate 4.25% Bid/6.25% Offer TWI 120.3 *+0.0* 25.2.95

End/Saturday, February 25, 1995

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