XN000022-1996-12-07+08 — Page 12

- 11 -

Hong Kong Monetary Authority money market operations

Cumulative

Time

change

Opening balance in the account

4155 MN

0930 HR

+550 MN

Closing balance in the account

4860 MN

1000 HR

+550 MN

Change attributable to:

1100 HR

+550 MN

Money market activity LAF today

+550 MN

1130 HR

+550 MN

+155 MN

LAF rate 4.00% bid/6.00% offer TWI 124.9 *+0.2* 7.12.96

Closed December 7, 1996

End