XN000022-1993-01-28 — Page 7

THURSDAY, JANUARY 28, 1993

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

*

$ MILLION

OPENING BALANCE IN THE ACCOUNT

1,500

REVERSAL OF LAF

NIL

BALANCE AFTER REVERSAL OF LAF

1,500

NET INJECTION/WITHDRAWAL TODAY

NIL

EFFECT OF LAF TODAY

NIL

CLOSING BALANCE IN THE ACCOUNT

1,500

LAF RATE 2.00 BID/4.00 OFFER TWI 114.30 **0.0* 28.1.93

HONG KONG GOVERNMENT EXCHANGE FUND

EF BILLS

HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

1 WEEK

2.57 PCT

13 MONTHS

2402

5.50

YIELD

101.69 3.88

1 MONTH

2.70 PCT

16 MONTHS

2405

5.50

101.67

4.21

3 MONTHS

2.86 PCT

19 MONTHS

2408

4.375

99.80

4.56

6 MONTHS 3.20 PCT

12 MONTHS

22 MONTHS

2411

4.625

99.78

4.81

3.85 PCT

TOTAL TURNOVER OF BILLS AND BONDS

22,341 MN

CLOSED 28 JANUARY 1993