Sale of Government Registered Development Stock by Auction. Issue of 1st Tranche of 1st Series 2004 4,25% 5-year stock

ISSUE OF FIRST TRANCHΕ OF  FIRST SERIES 2004 4,25% 5-YEAR STOCK

The Central Bank of Cyprus announces the offer by auction on a bid-price basis of up to £180.000.000 4,25% Government Registered Development Stock with date of issue 4^th January, 2004 and repayment at par in five years. Details about the auction are published in the form of an Announcement in the Official Gazette of the Republic on Friday 19^th December,2003.

Government Registered Development Stocks (GRDS) offered by auction are issued in series. For 5-year GRDS, First Series 2004 4,25% GRDS maturing in 2009 is offered, which will be effected in tranches.

The issue of the First Tranche of First Series 2004 4,25% 5-year GRDS will take place on 4^th January, 2004 - being the date of issue of the Series. The auction will take place on Wednesday 31^st December, 2003. 

Bids in the prescribed form for the 5-year stock will be accepted from 29^th December, 2003 until 9.00 a.m. of  31^st December, 2003. Only forms designed for the First Tranche Issue should be used. Application forms for the submission of bids and copies of the Announcement on the auction procedures and Terms of Issue for 5‑year GRDS can be obtained from the Securities Section of the Central Bank of Cyprus.