irasia.com - Hong Kong Monetary Authority

Listing of the Hong Kong Mortgage Corporation Notes
on the Stock Exchange of Hong Kong and
the Tender for the Eighth Issue of its Notes

The Hong Kong Monetary Authority (HKMA) announced today the HKMA signed the Programme, Agency and Operations Agreement in respect of the HK$20 billion Hong Kong Mortgage Corporation (HKMC) Note Issuance Programme (NIP) with the HKMC and Bermuda Trust (Far East) Ltd. The signing marked the completion of the legal documentation for the listing of HKMC's NIP on the Stock Exchange of Hong Kong (SEHK). The NIP and its seven outstanding issues (with an aggregate issue amount of HK$3.5 billion) will be listed and traded on the SEHK on 22 October 1999.

The HKMA also announced that the tender for the eighth issue of 2-year HKMC Notes will be held on Wednesday 27 October 1999.

An amount of HK$500 million in HKMC Notes will be offered for settlement on Thursday 28 October 1999. The 2-year Notes, which mature on 29 October 2001, will carry interest at the fixed rate of 6.65% per annum payable semi-annually in arrears. The terms and conditions of the issue are described fully in the Prospectus.

The HK$500 million HKMC Notes issue is the eighth tranche of the HK$20 billion HKMC Note Issuance Programme in which the HKMA acts as the arranger, custodian, agent and operator. The HKMC Notes, which are denominated in units of HK$50,000, will be cleared through the Central Moneymarkets Unit (CMU).

Members of the public who wish to tender for the Notes may do so through any of the Market Makers or Recognised Dealers on the published list which can be obtained from the HKMA at 30/F, 3 Garden Road, Hong Kong (telephone 2878 8150). They may also submit their tender applications through brokers who are members of the SEHK via Hong Kong Securities Clearing Company Limited (HKSCC) or, for those who hold Investor Accounts at HKSCC, directly through HKSCC. HKSCC will collect tender applications from its participants and submit them to the HKMA for processing. Each tender must be for an amount of HK$50,000 or integral multiples thereof.

Tender information for the eighth issue of The Hong Kong Mortgage Corporation Ltd Note Issuance Programme :-

Issue Number:	S204
Stock Code:	2550
Tender Date and Time:	Wednesday 27 October 1999 9:30 a.m. to 10:30 a.m.
Issue and Settlement Date:	Thursday 28 October 1999
Aggregate Principal Amount of Issue:	Up to HK$500 million
Aggregate Principal Amount of Issue Reserve for Public Subscription by Non-Competitive Tender :	Up to HK$100 million
Maturity:	Two years
Maturity Date:	29 October 2001
Interest Rate:	6.65% p.a., payable semi-annually
Interest Payment Dates:	28 April 2000 30 October 2000 30 April 2001 29 October 2001
Tender Amount:	Each tender must be for an amount of HK$50,000 or integral multiples thereof. Members of the public who wish to tender for the Notes may approach Market Makers or Recognised Dealers on the published list, Hong Kong Securities Clearing Company Limited, or brokers who are members of the Stock Exchange of Hong Kong
Other Details:	Please see the Prospectus and Supplemental Prospectus published or approach Market Makers or Recognized Dealers, Hong Kong Securities Clearing Limited, or brokers who are members of the Stock Exchange of Hong Kong