XN000022-1992-08-03 — Page 9

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MONDAY, AUGUST 3,

1992

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

* * * * *

$ MILLION

OPENING BALANCE IN THE ACCOUNT

968

REVERSAL OF LAF

+20

BALANCE AFTER REVERSAL OF LAF

988

NET INJECTION/WITHDRAWAL TODAY

NIL

EFFECT OF LAF TODAY

NIL

CLOSING BALANCE IN THE ACCOUNT

988

LAF RATE 2.00 BID/4.00 OFFER TWI 109.7 +0.0* 3.8.92

HONG KONG GOVERNMENT EXCHANGE FUND

EF BILLS

HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

1 WEEK

1 MONTH

3 MONTHS

2.69 PCT

15 MONTHS

2311

6.25

YIELD

103.33 3.61

2.58 PCT

2.52 PCT

18 MONTHS

2402

5.50

102.34

3.95

21 MONTHS

2405

5.50

102.34

4.17

6 MONTHS

2.73 PCT

12 MONTHS

3.30 PCT

TOTAL TURNOVER OF BILLS AND BONDS - 8,960 MN

CLOSED 3 AUGUST 1992