Auction Results of 4,50% GRDS Issued on 23.4.2003 (First Tranche Issue dated 23.4.2003)

An auction was held on 22.4.2003 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £10.000.000 4,50% Government Registered Development Stock with date of issue 23.4.2003 and maturity in ten years.

The total value of the bids submitted was £10.000. The weighted average yield/price of the accepted competitive bids was £99,00 per £100 nominal value representing an annual yield of 4,63%.