XN000022-1991-08-27 — Page 8

HIGHEST ACCEPTED YIELD

PRO RATA RATIO

7

TUESDAY AUGUST 27, 1991

5.59 POT

16 POT

AVERAGE DAILY TRANSFER FOR WEEK END'NG 23.8.91 KAS 6,099 MN

HONG KONG GOVERNMENT EXCHANGE FUND

HKEH

TUESDAY 3 SEPTEMBER 1991

NEXT TENDER OF EXCHANGE FUND BILLS

ISSUE NUMBER

Q136

H 172

ISSUE DATE

1 SEP 1991

4 SEP 1991

MATURITY DATE

4 DEC 1991

+ MAR 1992

TENOR

91 DAYS

182 DAYS

AMOUNT OF OFFER

HKD 500 + 100MN

HKD 200 + 60MN

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

DATE

• MILLION

CLOSING BALANCE IN THE ACCOUNT ON

EFFECT OF FORWARDS TO BE SETTLED ON

EFFECT OF OPERATIONS THIS MORNING

EFFECT OF OPERATIONS THIS AFTERNOON

23.8.91

600

27.8.91

+119

-119

NEUTRAL

TRADE WEIGHTED INDEX 113.2 +0.2* 27.8.91

HONG KONG GOVERNMENT EXCHANGE FUND

CLOSING YIELDS OF EXCHANGE FUND BILLS

27.8.91

23.8.91

MATURING IN

1 WEEK

5.02 PCT

4.36 PCT

1 MONTH

5.03 PCT

4.67 PCT

3 MONTHS

6.65 PCT

5.31 PCT

6 MONTHS

6.02 PCT

5.82 PCT

12 MONTHS

6.45 PCT

6.35 PCT

TOTAL BILLS TRANSFERRED

4,535 MN

10,460 MN*

* RECORD HIGH