The Issuance of Macao Pataca Commemorative Notes for the 29th Olympic Games

13 July 2008 marked the 7th Anniversary of the successful bidding of the 29th Olympic Games to be held in Beijing. The issuance of pataca commemorative notes for the event was announced at the headquarters of the Monetary Authority of Macao. Tam Pak Yuan, Secretary for Economy and Finance of the MSAR; Gao Yan, Deputy Director of the Liaison Office of the Central People¡¦s Government; Lu Shumin, Special Envoy of the Office of the Commissioner of the Ministry of Foreign Affairs; Anselmo Teng, Chairman of the Board of Directors of the Monetary Authority of Macao; Yuan Bin, Director of Marketing Development of Beijing Organizing Committee of the Olympic Games; Zhang Yanling, Managing Director and Executive Vice-President of Bank of China; Ye Yixin, General Manager of Bank of China Macao Branch; Zhou Boyuan, Director of China Banknote Printing and Minting Corporation; Xu Chen, Director of Office of Olympics Affairs, Bank of China officiated the ceremony. More than 100 celebrities from the community attended the ceremony.

As sanctioned by the International Olympic Committee and the Beijing Organizing Committee of the Olympic Games (Bocog) and in accordance with the provisions of Administrative Regulation 5/2008 of the MSAR, Bank of China Macao Branch was authorized to issue Pataca Commemorative Notes for the 29th Olympic Games. The face value is MOP20 while the issuing quantity is 4 million.

Anselmo Teng, Chairman of the Monetary Authority of Macao (AMCM) indicated that the century old dream of Olympics would realize on 8th August. The Beijing Olympic Games slogan "one world, one dream" fully portrayed that this was a meaningful event for all mankind. To this end, the Bank of China issued new notes to commemorate this event and propagate the Olympic spirit and its conception which we fully endorsed and appreciated. Bank of China Macao Branch was one of the two notes issuing banks in MSAR. It had been proactively participating and promoting the financial and economic development of Macao. Bank of China Macao Branch issued the new notes to commemorate the Beijing Olympic Games which enabled citizens of the MSAR to share the joys of hosting such a magnificent international event by the Motherland. It also reflected the conception that the MSAR was in synchronization with the Olympics.

Zhang Yanling, Managing Director and Vice-President of Bank of China said that as the banking partner of 2008 Olympic Games and Special Olympics, Bank of China had long been endeavouring in promoting the Beijing Olympic Games and the Olympic spirit. This time, the employment of pataca commemorative notes as the media to promote Olympic culture carried the yearning feeling of Olympic Games of our Macao compatriots and it further signified the common desire of all overseas Chinese to host the Olympic Games. It became a milestone for Bank of China in its issuance of pataca notes. At the same time, it left a memorable episode in the history of Olympics and international monetary development. It enriched our thought for "Century Olympics, Century BOC".

Yuan Bin, Director of Marketing Development of Bocog said that the issuance of MOP commemorative notes along side similar RMB and HKD notes was unprecedented in the history of issuance of commemorative legal tenders for Olympic Games. It would be the first time in the history of the Olympics that commemorative notes in three different denominations were issued.

The recto of the note features the emblem of Beijing Olympics and image of the ruins of ancient Olympic stadium, as well as the image of the headquarters of Bank of China, Macao Branch. The verso shows the Bird's Nest which is the National Stadium with the background of traditional Chinese lucky clouds and lotus which is the city flower of Macao mixed with colourful images which symbolize the Beijing Olympics and different sports. The design of the Olympic note not only reflects the history and development of Olympic spirit through generations but also the conception of ¡§Macao in synchronization with the Olympics¡¨.

The 4 million commemorative notes are finely packaged and, save for a small quantity for Olympic souvenir, will be sold in Macao, Hong Kong and other overseas regions. All sales proceeds after deducting the face value, franchise fees, packaging fees and marketing expenses, shall be used for charity purpose in Macao.

1.46 million sets of Olympic notes, equivalent to 1.81 million pieces should be able to meet the demand of half a million Macao residents. The various selections and the respective price tags are as follows:

There are two phases for the sales period; the first phase will be 16 July - 31 July 2008 (Saturdays and Sundays included) which is for Macao residents who will purchase upon proof of identity. The second phase will be 8 August - 24 August 2008 and there is no restriction on identity of purchases.

The first phase of sale is twofold:

(1) Available daily at the 24 sub-offices of Bank of China Macao Branch whereby each sub-office will announce in advance everyday the quantity and selections available for purchase; every client each time is allowed to purchase one quantity for every selection on a first come, first served basis, cash only and no picking of serial number is allowed.

(2) Purchaser can register for pre-sale on the website of Bank of China Macao Branch (www.bocmacau.com), each purchaser is allowed to register once everyday on a first come, first served basis; the successful registrant should go to the designated sub-office at the appointed time to pay for and pick up the commemorative notes.

Arrangements for the second phase will be announced later.

After public sale has been finalized, Bank of China Macao Branch will hold a public auction of sets of 35 connected notes and notes which carry special serial numbers. All proceeds from the auction shall be used for charity in Macao.