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The notes will mature on February 27, 2003, and will carry interest at the rate of 6.02% per annum payable semi-annually in arrears. Terms and conditions of the issue are described fully in the Information Memorandum.

Members of the public who wish to tender for the notes may do so through any of the market makers or recognised dealers on the published list which can be obtained. from HKMA at 30th floor, 3 Garden Road, Hong Kong, or on 2878 8150.

Each tender must be for an amount of $50,000 or integral multiples thereof.

Following is the tender information for the second issue of 7-Year exchange fund notes:

Issue number

Tender date and time

Issue and settlement date

Amount on offer

: 7302

: Monday February 26, 1996, 9.30 am to 10.30 am

: Tuesday February 27, 1996

Maturity

Maturity date

Interest rate

Interest payment dates

: $500 million plus an additional $100 million as reserve

stock for the Monetary Authority

: Seven years

: February 27, 2003

: 6.02% per annum payable semi annually in arrears

: Aug 27, 1996, Feb 27, 1997,

Aug 27, 1997, Feb 27, 1998,

Aug 27, 1998, Feb 26, 1999.

Aug 27, 1999, Feb 28, 2000,

Aug 28, 2000, Feb 27, 2001,

Aug 27, 2001, Feb 27, 2002,

Aug 27, 2002. Feb 27, 2003