Auction Results of Treasury Bills issued on 23.10.2003

An auction was held on 22.10.2003 for the sale by the Central Bank of Cyprus, for and on behalf of the Government of the Republic of Cyprus, of upto £30.000.000 Treasury Bills with date of issue 23.10.2003 and 52 weeks maturity.

The total value of the bids submitted was £57.000.000. The competitive bids amounted to £49.000.000 and the non-competitive bids to £8.000.000. The total value of bids accepted was £30.000.000. The competitive bids accepted amounted to £22.000.000 while the non-competitive bids accepted amounted to £8.000.000.

In accordance with the terms of the auction the non-competitive bids amounted to £8.000.000 were accepted at the average weighted price of the accepted competitive bids. The price was £965,44 per £100 nominal value representing an annual yield of 3,60%.