XN000022-1991-05-14 — Page 11

TUESDAY, MAY 14, 1991

10

HONG KONG GOVERNMENT EXCHANGE FUND

EXCHANGE FUND BILLS TENDER RESULTS

TUESDAY 14 MAY 1991

HKEG

ISSUE NUMBER

AMOUNT APPLIED

AMOUNT ALLOTTED

AVERAGE ACCEPTED YIELD

HIGHEST ACCEPTED YIELD

PRO RATA RATIO

Q120

HKD 1,330 MN

HKD 400 MN

5.85 PCT

5.88 PCT

ABOUT 49 PCT

H164

HKD 848 MN

HKD 200 MN

5.92 PCT

5.96 PCT

ABOUT 65 PCT

AVERAGE DAILY TRANSFER FOR WEEK ENDING 10.5.91 WAS 3,882 MN

HONG KONG GOVERNMENT EXCHANGE FUND

НКЕН

NEXT TENDER OF EXCHANGE FUND BILLS

- doda

TUESDAY 21 MAY 1991

ISSUE NUMBER

Q121

Y190

ISSUE DATE

22 MAY 91

22 MAY 91

MATURITY DATE

TENOR

21 AUG 91

20 MAY 92

91 DAYS

364 DAYS

AMOUNT ON OFFER

HKD 400 + 80 MN

HKD 200 + 60 MN

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

* * * *

HKEF

DATE

$ MILLION

CLOSING BALANCE IN THE ACCOUNT ON

13.5.91

480

EFFECT OF FORWARDS TO BE SETTLED ON

14.5.91

+129

EFFECT OF OPERATIONS THIS MORNING

-129-

EFFECT OF OPERATIONS THIS AFTERNOON

TRADE WEIGHTED INDEX 112.4 -0.1* 14.5.91

NEUTRAL

HONG KONG