XN000022-1997-03-05 — Page 8

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Media organisations which are interested in covering the Handover Ceremony should submit applications together with personal particulars of their representatives to the Information Services Division of the Handover Ceremony Coordination Office of the Hong Kong Government before April 7, 1997. Application forms will be distributed by the Handover Ceremony Coordination Office from March 15, 1997 onwards.

In addition, a Press and Broadcast Centre will be established to facilitate media coverage of the Handover Ceremony. Media organisations from different countries and regions are welcome to use the Press and Broadcast Centre and its facilities and services.

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HKNPL to have new shareholder

The Hong Kong Monetary Authority announced today (Wednesday) that the Financial Secretary has entered into an agreement with the China Banknote Printing and Minting Corporation (CBPMC) to sell 3,825,000 Ordinary Shares of the Hong Kong Note Printing Limited (HKNPL). The consideration for the sale of these shares, which represent 15% of the issued share capital of the HKNPL, is HK$42.5mn.

HKNPL, which operates a banknote printing plant in Tai Po, is fully owned by the Hong Kong Government through the Exchange Fund. The HKNPL was acquired by the Hong Kong Government in April 1996 and its main line of business is the printing of HK$ banknotes.

"I am pleased to have CBPMC participating in HKNPL as a minority shareholder. I am sure that HKNPL will benefit from this new business relationship, given CBPMC's expertise in banknote printing and its position in China in the security printing business," said Mr Donald Tsang, the Financial Secretary.

CBPMC is a subsidiary enterprise of the People's Bank of China responsible for the printing and minting of RMB currency. It possesses comprehensive expertise in banknote printing, including design, plate-making and printing of banknotes. It also manufactures anti-counterfeit papers and printing inks. CBPMC currently operates 15 printing and minting plants as well as a technology development institute.