XN000022-1993-05-01 — Page 6

5

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

*****

SATURDAY, MAY 1, 1993

$ MILLION

OPENING BALANCE IN THE ACCOUNT

REVERSAL OF LAF

BALANCE AFTER REVERSAL OF LAF

NET INJECTION/WITHDRAWAL TODAY

EFFECT OF LAF TODAY

CLOSING BALANCE IN THE ACCOUNT

LAF RATE 2.00 BID/4.00 OFFER

2,060

+20

2,080

NIL

-1,135

TWI 111.8 *+0.0* 1.5.93

945