The Central Bank of Cyprus announces the offer by auction on a bid-price basis of up to £20.000.000 4,75% Government Registered Development Stock with date of issue 24th September, 2002 and repayment at par in two years. Details about the auction will be published in an Announcement in the Official Gazette of the Republic on Friday 13th September, 2002. The auction will take place on 23rd September, 2002. Bids on the prescribed form for 2-year stock will be accepted from 19th September, 2002 until 9.00 a.m. on 23rd September, 2002. Application forms for the submission of bids and copies of the Announcement on the auction procedures and Terms of Issue for the Stock can be obtained from the Securities Section of the Central Bank of Cyprus.