08:56     Latest EFN Closing Yield-to-Maturity of Last 5 Trading Days         

                                                                              
    Yield-to-Maturity at Closing from the OTC market as of the last 5 trading 
    days of the latest EFN in issue with similar time-to-maturity ("Latest    
    EFN") as the EFN at tender for reference:                                 
                                                                              
    Re: EFN at tender (HKMA Issue No.2702)                                    
                                                                              
    Latest                                                                    
    Same                                                                      
    Maturity                                                                  
    EFN   HKMA                    Coupon      Closing Yield-to-Maturity       
    Stock Issue   Issue  Maturity  Rate            at Closing (%pa)*          
    Code  No.     Date     Date   (%pa)    28/01 31/01 01/02 02/02 03/02      
    ----  -----   ----     ----   ------   ----- ----- ----- ----- -----      
    4050  1701  28/01/97 29/01/07  6.89     1.56  1.65  1.83  1.76  1.84      
                                                                              
    * Source: Reuters