XN000022-1996-10-18 — Page 36

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Tender information for the first issue of 10-year exchange fund notes is as

follows:

Issue number

:

1610

Tender date and time

:

Monday October 28, 1996,

9.30 am to 10.30 am

Issue and settlement date

:

Tuesday October 29, 1996

Amount on offer

:

$500 million plus an additional $100 million

as reserve stock for the Monetary Authority

Maturity

:

10 years

Maturity date

:

October 30, 2006

5

Interest rate

7.37% per annum payable semi annually in arrears

Interest payment dates

:

Apr 29, 1997, Oct 29, 1997,

Apr 29, 1998, Oct 29, 1998,

Apr 29, 1999, Oct 29, 1999,

Apr 28, 2000, Oct 30, 2000,

Apr 30, 2001, Oct 29, 2001,

Apr 29, 2002, Oct 29, 2002,

Apr 29, 2003, Oct 29, 2003,

Apr 29, 2004, Oct 29, 2004,

Tender amount

Other details

:

Apr 29, 2005, Oct 31, 2005, Apr 28, 2006, Oct 30, 2006

Each tender must be for an amount of $50,000 or integral multiples thereof. Members of the public who wish to tender for the notes may approach market makers or recognised dealers on the published list

Please see information memorandum published or approach market makers or recognised dealers

End