10-yr bond auction

The Central Bank of Cyprus announced the offer by auction on a bid-price basis of up to CYP 100 mln 4.5% Government Registered Development Stock. The issue date will be 2 January 2006 and repayment will be at par in 10 years. The auction will take place on 29 December 2005 and bids will be accepted from 27 December.

The Central Bank of Cyprus will also be offering by auction on a bid-price basis of up to CYP 50 mln Treasury Bills with date of issue 1.1.2006 and 13 weeks maturity. Bids on the prescribed form will be accepted from 27.12.2005 until 9:00 a.m. on 29.12.2005.

The Central Bank also announced the issue of up to CYP 15 mln 3.75%

Government Registered Development Stock with maturity of 3 years. Interest will be paid semi-annually. Applications are accepted from 28 December, 2005 to 2 January, 2006.

Meanwhile, during the auction conducted on 22 December 2005 for the acceptance of deposits of 14-day duration, bids amounting to CYP 455,5 mln were submitted, and an amount of CYP 300,0 mln was absorbed at a weighted average allotment rate of 2,54%. The minimum and maximum allotment rates were 2,43% and 3,25%, respectively.