XN000022-1995-04-27 — Page 37

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At the time of the payment of the seventh dividend, the Special Managers estimated that the overall return to creditors would be in excess of 80%.

Whilst this dividend takes the total return to over 86%, the final payout remains entirely contingent on future realisations and other settlements and cannot be estimated with any precision at this stage.

To the extent that funds are available to make further distributions to creditors it is anticipated that dividends will be paid every four to six months and the size of any future dividends will probably be reduced.

Mr Hearder also issued his third report to creditors today, copies of which will be sent to creditors with their dividend cheques.

For further information please contact:

Mr A R Hearder

Mr N P Etches

Mr G C K Tam

2867 2426

2826 7236

2826 7259

Joint Special Managers

End/Thursday, April 27, 1995

Hong Kong Monetary Authority money market operations

Cumulative

Time

change

$ million

(hours)

($million)

Opening balance in the account

2,125

0930

+333

Closing balance in the account

2,463

1000

+333

Change attributable to:

1100

+345

Money market activity

+338

1200

+338

LAF today

Nil

1500

+338

1600

+338

LAF rate 4.25% bid/6.25% offer TWI 118.5*+0.3* 27.4.95