Good morning, ladies and gentlemen.

I am pleased to announce the commencement of trading of two i-Shares on our exchange today.

The two iShares are iShares MSCI Taiwan Index Fund and iShares MSCI South Korea Index Fund. Trading hours for these two funds are 10 am to 4 pm - without a lunch break. And, the trading and settlement currency is US Dollar.

As you know, these iShares are Exchange Traded Funds and investors can buy and sell them like ordinary stocks through their brokers during trading hours.

Introduction of ETF to our market expands the range of products available to investors.

The Taiwan and South Korea Index Funds are only the first two regional ETF being traded in Hong Kong. There are more than 90 ETF around the world, most of them in North America. We plan to introduce more ETF for trading in all markets after we have gained some experience from the trading of the first two regional iShares.

I do believe that by expanding the range of products to meet investors' needs, we will help to increase the attractiveness and competitiveness of Hong Kong as an international financial centre.

Thank you.