FINWIRE®

New Issue of 3,75% Government Registered Development Stock

February 21st, 2006

The Central Bank of Cyprus announces the issue of up to £20.000.000 Government Registered Development Stock with three years duration and interest of 3,75% p.a. payable every six months. 

Government Registered Development Stock with three years duration can be acquired by natural persons only.  Interest earned is exempted from income tax without any limitation but is subject to 3% Defence Tax Contribution.

The new stock issue has a two-fold purpose: the encouragement of savings and the raising of funds for financing Government development projects.  The funds raised are deposited in the Development Fund of the Republic.
 
Application Forms and Terms of Issue are available at the Central Bank of Cyprus, Banks, Post Offices and Stockbrokers.  Applications are accepted from  23 February, 2006  to 28 February, 2006.

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