XN000022-1993-08-20 — Page 8

FRIDAY, AUGUST 20, 1993

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 112.4 *+0.1* 20.8.93

$ MILLION

1,155

+845

2,000

NIL

- 120

1,880

EF BILLS

HONG KONG GOVERNMENT EXCHANGE FUND

EF NOTES/HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

1 MONTH

2.61 PCT

15 MONTHS 2411

4.625

101.40

3.48

2.66 PCT

18 MONTHS

2502

4.75

101.58

3.68

3 MONTHS

2.74 PCT

21 MONTHS

2505

4.75

99.66

3.99

6 MONTHS 3.00 PCT

12 MONTHS 3.26 PCT

24 MONTHS 2508

4.625

100.91

4.19

TOTAL TURNOVER OF BILLS AND BONDS

J

30,714 MN

CLOSED 20 AUGUST 1993