NEWS RELEASE
April 12, 2000

Hong Kong Exchanges and Clearing (HKEx) confirmed today (Wednesday) that Mr Alec Tsui Yiu-wa had tendered his resignation as chief operating officer of the company, and chief executive of The Stock Exchange of Hong Kong. Mr Tsui will leave on August 1.

The company is in the process of recruiting a successor to Mr Tsui. To avoid real or potential conflicts of interest prior to his departure, Mr Tsui will refrain from involvement in individual securities regulation and listing cases.

On behalf of HKEx, Mr Charles Lee Yeh-kwong, chairman of the company, thanked Mr Tsui for his leadership of the Stock Exchange during the past three years and his valuable contribution to the merger of the exchanges and clearing companies to form HKEx. He said Mr Tsui would leave behind an effective management which would continue to supervise the smooth and efficient operation of the stock exchange.

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