09:12     EFN 3.61 1205<04137> - New Listing                                  

    Market participants are requested to note that dealings in the 3.61%      
    Exchange Fund Notes due 2012 issued by the Hong Kong Monetary Authority   
    on behalf of the Hong Kong Special Administrative Region Government for   
    the account of the Exchange Fund will commence at 9:30 a.m. on Friday,    
    27/05/2005 under the following particulars:-                              
                                                                              
    Stock Code  Stock Short Name     Denomination     Trading Currency        
    ----------  ----------------     ------------     ----------------        
    4137        EFN 3.61 1205        HKD 50,000       HKD                     
                                     or 500 units