XN000022-1996-05-01 — Page 10

9 -

The closing date for submission of tenders is noon on May 17.

Tender forms, tender notices and conditions may be obtained from the Lands Department, 14th floor, Murray Building, Garden Road and the District Lands Offices of Kowloon West and Hong Kong East.

Tender plans can also be inspected at these offices.

End

Hong Kong Monetary Authority money market operations

Cumulative

Time

$ million (hours)

change (Smillion)

Opening balance in the account

2,513

0930

-112

Closing balance in the account

2,201

1000

-112

Change attributable to:

1100

-112

Money market activity

-112

1200

-112

LAF today

-200

1500

-112

1600

-112

LAF rate 4.00% bid/6.00% offer TWI 123.7 *+0.2* 1.5.96

Hong Kong Monetary Authority

EF bills

EF notes

Terms

Yield

Term

Issue Coupon

Price

Yield

1 week

4.93

2 years

2802

5.16

98.57

6.10

1 month

5.02

3 years

3904

6.30

99.51

6.59

3 months

5.12

5 years

5103

6.75

98.58

7.22

6 months

5.24

7 years

7302

6.02

92.32

7.61

12 months 5.53

5 years M502

7.30

99.80

7.49

Total turnover of EF bills and notes - $27,982 million

Closed May 1, 1996

End

Page 10Page 11

+