XN000022-1996-09-09 — Page 8

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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, Tel 2878 8150. Each tender must be for an amount of $50,000 or integral multiples thereof.

The tender information for the ninth issue of 5-year exchange fund notes is as

follows:

Issue number

Tender date and time

Issue and settlement date

Amount on offer

: 5109

: Monday September 16, 1996,

9.30 am to 10.30 am

: Tuesday September 17, 1996

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

stock for the Monetary Authority

: Five years

:

Maturity

Maturity date

: September 17, 2001

Interest rate

Interest payment dates

Tender amount

Other details

: 7.32% per annum payable semi-annually in arrears

: Mar 17, 1997, Sep 18, 1997, Mar 17, 1998, Sep 17, 1998, Mar 17, 1999, Sep 17, 1999, Mar 17, 2000, Sep 18, 2000,

Mar 19, 2001, Sep 17, 2001

: Each tender must be for an amount of $50,000 or

integral multiples thereof. Members of the public who wish to tender for the notes may approach market makers or recognised dealers on the published list

: Please see information memorandum published or

approach market makers or recognised dealers

End