XN000022-1993-12-08 — Page 9

WEDNESDAY, DECEMBER 8, 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 113.5 +0.0* 8.12.93

MILLION

4

+3,996

4,000

NIL

-20

3,980

EF BILLS

HONG KONG GOVERNMENT EXCHANGE FUND

EF NOTES/HONG KONG GOVERNMENT BONDS

TERMS

YIELD

TERM

ISSUE

COUPON

PRICE

YIELD

1 WEEK

2.73 PCT

14 MONTHS 2502

4.75

101.37

3.59

1 MONTH

2.97 PCT

17 MONTHS 2505

3.75

99.89

3.86

3 MONTHS

2.98 PCT

20 MONTHS

2508

4.625

101.01

4.04

6 MONTHS

3.16 PCT

23 MONTHS

2511

4.15

99.97

4.21

12 MONTHS 3.47 PCT

35 MONTHS

3610

4.20

98.94

4.65

TOTAL TURNOVER OF BILLS AND BONDS

10,808 MN

CLOSED 8 DECEMBER 1993