Kowloon-Canton Railway Corporation Launches US$3.0 Billion Medium Term Note Programme

The Programme is arranged by Citi, Deutsche Bank, and HSBC. A total of 15 Dealers have been appointed. The Dealer group represents a strong international mix. The Dealers are ANZ, Bank of China (Hong Kong) Limited, Barclays Capital, BNP PARIBAS,

By None

The Programme is arranged by Citi, Deutsche Bank, and HSBC. A total of 15 Dealers have been appointed. The Dealer group represents a strong international mix. The Dealers are: ANZ, Bank of China (Hong Kong) Limited, Barclays Capital, BNP PARIBAS, Citi, DBS Bank Ltd., Deutsche Bank, Goldman Sachs (Asia) L.L.C., HSBC, J.P. Morgan, Merrill Lynch International, Mitsubishi UFJ (HK) Capital Limited, Morgan Stanley, Standard Chartered Bank (Hong Kong) Limited, and The Royal Bank of Scotland.

The Programme will be listed on The Stock Exchange of Hong Kong. The Programme will allow KCRC to issue debt securities in the international capital markets in multiple currencies, interest rate structures and maturities.

The Programme is rated Aa3 by Moodys and AA+ by S&P.

Established in December 1982, KCRC is 100% owned by HKSAR Government and is a holder of railway assets which are used to provide domestic, cross-boundary and intercity railway services in Hong Kong. On December 2, 2007, pursuant to the Service Concession, KCRC granted MTR Corporation access to use and operate its rail network and related business for a 50 year and extendable concession period for Service Concession payments.

D.C.

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