XN000022-1996-11-18 — Page 15

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LAF rate 4.00% bid/6.00% offer TWI 124.3 *+0.0* 18.11.96

Hong Kong Monetary Authority

EF bills

EF notes/MTRC notes

Terms

Yield

Term

Issue

Coupon Price

Yield

1 week

4.90

2

years

2811

5.72

100.10

5.75

1 month

4.91

3 years

3910

6.28

100.73

6.09

3 months

4.93

5 years

5109

7.32

103.16

6.64

6 months

5.01

7 years

7308

7.24

102.23

6.94

12 months 5.25

10 years

1610

7.37

101.96

7.22

5 years

M503

7.35

101.95

6.98

Total turnover of EF bills and notes - $7,628 million

Closed November 18, 1996

End