Sale of Government Registered Development Stock by auction issue of First Tranche of Second series 2004 5,75% 5-year stock

The Central Bank of Cyprus announces the offer by auction on a bid-price basis of up to £60.000.000 5,75% Government Registered Development Stock with date of issue 9^th December, 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 3^rd December, 2004.

Government Registered Development Stocks (GRDS) offered by auction are issued in series.  For 5-year GRDS, Second Series 2004 5,75% GRDS maturing in 2009 is offered, which will be effected in tranches.  The issue of the First Tranche of Second Series 2004 5,75% 5-year GRDS will take place on 9^th December, 2004 – being the issue date of the Series - for an amount up to £60.000.000,    as   mentioned  above.  The auction will take place on Tuesday, 7^th  December, 2004.  

Bids   in  the  prescribed  form  for  the  5-year  stock  will  be  accepted  from    3^rd December, 2004 until 9.00 a.m. of  7^th December, 2004.  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.