TNAG-2411-FCO40-3506-Proposed-airport-in-Macao-(Macau)-1992 — Page 17

sr.5.19.8

£200-300 million. If there are to be post-1999 maturities then a first class bank guarantee seems essential. I understand that the Foreign Office can go along with a requirement that "a first class bank guarantee" be required for post-1999 majorities. This should not cause difficulty with regard to Hong Kong interests.

I am copying this letter to the recipients of yours.

Yows Sincerty

Rage Witts

R J T WATTS