| NEWS RELEASE | December 30, 1999 |
The Stock Exchange of Hong Kong is fully prepared for the Y2K rollover. Rectification of the Exchange's securities and options trading systems, information services system, and other internal systems have been completed as early as mid-1999. A comprehensive Y2K contingency plan is in place and tested. The Exchange has also established co-ordination with other market operators, regulators and business partners to manage any possible Y2K problems.
To ensure smooth market operations on January 3, 2000, the first trading day in the new millennium, the Exchange, together with other financial insitutions, will conduct a thorough computer system review across markets on January 1, 2000. All Exchange members are required to participate in the test and report to the Exchange their test results and Y2K rollover status.
The Exchange commenced its Y2K compliance project in mid-1996 and over $30 million has been spent on the project. Over 200 Exchange staff members will report duties during the Y2K rollover period from December 31, 1999 and January 1, 2000.
Corporate Communications Department
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