- 20 -

364 days

HK$500+150MN

Tenor

5 Years

91 days

Amount on

HK$500+100MN HK$1,500MN+300MN

offer

Coupon

7.75 PCT

End/Tuesday, March 14, 1995

Hong Kong Monetary Authority money market operations

Cumulative

Time

$ million (hours)

change ($million)

Opening balance in the account

1,229

0930

+1,445

Closing balance in the account

2,569

1000

+1,445

Change attributable to:

1100

+1,456

Money market activity

+1,465

1200

+1,456

LAF today

-125

1500

+1,465

1600

+1,465

LAF rate 4.25% bid/6.25% offer TWI 118.5 *+0.0* 14.3.95

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