TNAG-2427-FCO40-3529-Hong-Kong-Her-Majesty-s-Overseas-Civil-Service-(HMOCS)-poli-1992 — Page 94

1

Table C:

Present value, as at 1 October 1991 of the estimated SAVINGS or (COSTS) of option C, in UK£ million

:when the exchange rate from 1 July 1997 is assumed to be

Trigger

level

HK$ worthless

HK$28

HK$16 HK$12

HK$8

HK$

16

(324)

22

(236)

(139) (51)

0

108

324

88

197

413

30

(173)

12

151

259

476

Table D:

Present value, as at 1 October 1991 of the estimated costs of option D, in UK£ million

:when the HK$ from 1 July

1997 is assumed to be worthless

Old

Trigger scheme,

Old scheme, scheme,

New

New scheme,

level

25%

0%

50%

0%

HK$

commutation

commutation

13.76

377

407

340

385

16

324

350

292

331

22

236

255

212

241

30

173

187

156

176