XN000022-1992-02-18 — Page 3

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TUESDAY, FEBRUARY 18, 1992

"IT IS NOT POSSIBLE TO HAVE FRUITFUL DISCUSSION WITHOUT AN ASSESSMENT OF WHAT A DPS COULD DO, WHAT ARE THE ADVERSE IMPLICATIONS, AND HOW MUCH IT WOULD BE LIKELY TO COST.

"IN FACT, EVEN IF AT THE END OF THE DAY APPROPRIATE то PROCEED FURTHER, THERE ARE OUTSTANDING PROBLEMS TO BE STUDIED IN DETAIL TO BEST BE RESOLVED, THE SPOKESMAN STRESSED.

IT WERE CONSIDERED STILL SUBSTANTIAL SEE HOW THEY COULD

THE PAPER ALSO IDENTIFIES THAT CONSIDERATION IS BEING GIVEN, IN PARALLEL, TO A PROPOSAL THAT PRIORITY MIGHT BE AFFORDED TO SMALL DEPOSITORS IN THE EVENT OF BANK LIQUIDATIONS.

THE PAPER HAS VARIOUS ANNEXES SHOWING THE MAJOR CHARACTERISTICS OF EXISTING DPS ELSEWHERE AND THE ASSUMPTIONS AND CALCULATIONS ON WHICH THE ESTIMATED COSTS ARE BASED.

COPIES OF THE PAPER WILL BE SENT ΤΟ IDENTIFIED INTERESTED BODIES IN THE FIRST INSTANCE, AND WILL BE MADE AVAILABLE ΤΟ THE GENERAL PUBLIC, FREE OF CHARGE, FROM ALL DISTRICT OFFICES MARCH THIS YEAR.

THOSE WHO WISH TO COMMENT ARE INVITED TO WRITE TO THE AFFAIRS BRANCH, 1802, TOWER I, ADMIRALTY CENTRE ON OR BEFORE THIS YEAR.

BY EARLY

MONETARY

MAY

31

TENDERS TO BE INVITED FOR WESTERN HARBOUR CROSSING

* * * * * *

THE GOVERNMENT WILL INVITE THE PRIVATE SECTOR TO SUBMIT PROPOSALS FOR THE WESTERN HARBOUR CROSSING FRANCHISE BY THE END OF THIS MONTH, THE SECRETARY FOR TRANSPORT, MR MICHAEL LEUNG, SAID TODAY (TUESDAY).

SPEAKING AT A PRESS CONFERENCE TO ANNOUNCE TENDER DETAILS, MR LEUNG SAID THIS PROJECT WILL PROVIDE A THIRD ROAD CROSSING CONNECTING KOWLOON AND HONG KONG ISLAND BY MID 1997.

THE WESTERN HARBOUR CROSSING (WHC) IS ONE OF THE PROJECTS UNDER THE AIRPORT CORE PROGRAMME AND WILL FORM PART OF ROUTE 3 CONNECTING HONG KONG ISLAND, WEST KOWLOON, TSING YI AND EVENTUALLY THE BORDER CROSSING AT LOK MA CHAU.

AND

"IT WILL BE PRIVATISED UNDER A 'BUILD, OPERATE AND ARRANGEMENT. AWARD OF TENDER WILL BE THROUGH AN OPEN BIDDING PROCESS, HE SAID.

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TRANSFER' COMPETITIVE

/UNDER THIS