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Press Release

20 September 2006

HKSI Signs Memorandum of Understanding with the Korea Securities Dealers Association

The Hong Kong Securities Institute (HKSI) and the Korea Securities Dealers Association (KSDA) have signed a Memorandum of Understanding (MOU) providing the framework for further cooperation in areas of education and training.

Both organisations have recognised the importance of continuous education and training as a global development tool, and desired to strengthen and broaden the scope of co-operation and mutual assistance in the provision of education and training through their respective territories.

The MOU has been signed today in Hong Kong. KSDA Chairman & CEO Mr Kun-Ho Hwang and HKSI Chairman Mr Edward Kwan have spoken at the ceremony and signed the MOU on behalf of their organisations.

During the ceremony, KSDA Chairman Mr Hwang says, ¡§The MOU will play a significant part in prospering the two financial markets and boosting cross-border co-operation between us.¡¨

HKSI Chairman Mr Kwan comments, after today's signing ceremony, that this agreement indicates the HKSI's commitment to develop closer ties with the international finance community. ¡§The MOU will not only enhance co-operation on the education and training front but will also help develop synergies between the two markets,¡¨ Mr Kwan says.

Mr Gary Cheung, HKSI Chief Executive, adds that Korea is a young and fast growing capital market. The total market capitalisation of the country's stock market is close to KRW 665 trillion (US$685 billion) in August 2006, with 723 companies listed. The HKSI is looking forward to working closely with the KSDA and to deepen the exchange of information and programmes in nurturing the securities practitioners at both places.

Front row (from left to right): Mr Edward Kwan (HKSI Chairman) & Mr Kun-Ho Hwang (KSDA Chairman & CEO).

Back row (from left to right): Mr Siu Yam-wing (HKSI Training Senior Manager), Mr Gary Cheung (HKSI Chief Executive), Mr Byung-moon Park (Managing Director) & Mr Sung-soo Hwang (Korea Securities Training Institute Director).