Appointment of Mr KC Kwong As Hong Kong Exchanges And Clearing Limited (HKEC) Chief Executive

The board of the Hong Kong Exchanges and Clearing Limited (HKEC) announced yesterday (Tuesday) the appointment of Mr KWONG Ki-chi as the Chief Executive of the company. Mr Kwong is expected to join HKEC in early March 2000. As required under the Exchanges and Clearing Houses (Merger) Ordinance, HKEC has submitted the appointment to the Securities and Futures Commission for approval.