XN000022-1996-06-21 — Page 27

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25 -

All even number premises between 2-14 and all odd number premises between 17-19 Shing Wong Street;

Ping On Lane; and

Kui In Fong.

Hong Kong Monetary Authority money market operations

Cumulative

Time

$ million

(hours)

change ($million)

Opening balance in the account

1,950

0930

+ 8

Closing balance in the account

1,814

1000

+ 8

Change attributable to:

1100

+ 8

Money market activity

-6

1200

+11

LAF today

-130

1500

+11

1600

- 6

LAF rate 4.00% bid/6.00% offer TWI 124.3 *+0.2* 21.6.96

Hong Kong Monetary Authority

EF bills

EF notes

Terms

Yield

Term

Issue

Coupon

Price

Yield

1 week

4.95

2 years

2805

6.30

99.89

6.46

1 month

5.04

3 years

3904

6.30

98.87

6.85

3 months

5.22

5 years

5106

7.23

99.41

7.51

6 months

5.46

7 years

7305

7.60

99.51

7.84

12 months

5.84

5 years

M502

7.30

99.06

7.70

Total turnover of EF bills and notes - $12,971 million

Closed June 21, 1996

End