XN000022-1993-08-03 — Page 5

TUESDAY, AUGUST 3, 1993

HONG KONG GOVERNMENT EXCHANGE FUND

TENDERS TO BE HELD IN THE WEEK BEGINNING 9 AUGUST 1993

TENDER DATE

PAPER ON OFFER

10 AUGUST 93

+

10 AUGUST 93

EF BILLS

Y392

ISSUE NUMBER

ISSUE DATE

MATURITY DATE

TENOR

EF BILLS

Q332

11 AUGUST 93

10 NOVEMBER 93

10 AUGUST 94

91 DAYS

11 AUGUST 93

AMOUNT ON OFFER

HKD1,000 + 200 MN

364 DAYS

HKD300 + 90 MN

0

HONG KONG GOVERNMENT EXCHANGE FUND

MONEY MARKET OPERATIONS

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 TWI 112.3 -0.2* 3.8.93

MILLION

1,980

+20

2,000

NIL

-240

1,760

EF BILLS

HONG KONG GOVERNMENT EXCHANGE FUND

EF NOTES/HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

2.30 PCT

13 MONTHS 2408

4.375

100.60 3.82

1 MONTH

3 MONTHS

2.60 PCT

3.09 PCT

16 MONTHS 2411

4.625

100.80 4.02

19 MONTHS 2502

4.75

100.79

4.26

6 MONTHS 3.38 PCT 22 MONTHS 2505

12 MONTHS 3.77 PCT

3.75

98.79

4.51

TOTAL TURNOVER OF BILLS AND BONDS

-

14,120 MN

CLOSED 3 AUGUST 1993