Your Excellency the Chief Executive:

Our Commission has verified and audited the financial statements from page 7 to page 9.

The abovementioned financial statements are summary of the “General Accounts of Macao Special Administrative Region 1999”.

Responsibility for Compilation and Supervision of the General Accounts of Macao Special Administrative Region

In accordance with Paragraph 1, Article 35 of Decree Law No. 41/83/M, the Financial Services Bureau shall be responsible for compiling the general accounts and record the results of the budget execution in the general accounts. At the same time, in accordance with Article 37 of Decree Law No. 41/83/M on the administrative supervision of the budget execution, supervision over the autonomous departments shall be carried out by the entities responsible for the budget resources management; supervision over other departments shall be carried out by the Financial Services Bureau in accordance with its organization law.

Basis of Audit

Our Commission has verified and audited the abovementioned financial statements in accordance with the established audit plan and scope. The audit scope includes verifying by means of sample check whether the amounts recorded in the financial statements measure up to the general accounts and the provisions of relevant laws.

When planning and performing the audit, our Commission has tried its best to acquire all information and explanations deemed necessary so as to obtain sufficient evidence and verification on whether there is any material misstatement in such financial statements.

Audit Result

The audit result ascertains that the abovementioned financial statements present fairly, in all material aspects, the financial position of asset and liability as at December 31, 1999 and the results of its income and expenditure of the whole year then ended.