XN000022-1996-08-20 — Page 4

Tender date

Paper on offer

Issue number

Issue date

Maturity date

Coupon

Amount applied

3.

Hong Kong Monetary Authority tender results

20 Aug 96

EF bills

Q634

21 Aug 96

20 Nov 96

HK$4,677 MN

Amount allotted

HK$1,500 MN

Average yield accepted

5.14 PCT

Highest yield accepted

5.15 PCT

Pro rata ratio

About 77 PCT

Average tender yield

5.16 PCT

Hong Kong Monetary Authority

Tenders to be held in the week beginning August 27, 1996 -

Tender date

27 Aug 96

Paper on offer

EF bills

Issue number

Issue date

Maturity date

Tenor

Amount on offer

End

27 Aug 96

EF bills

Q635

28 Aug 96

27 Nov 96

91 days

HK$1,500+300 MN

H672

28 Aug 96

26 Feb 97

182 days

HK$800+160 MN