Fungibility Issue

L.N. 64 of 2005

BUDGET MEASURES IMPLEMENTATION ACT, 2005

(ACT NO. II OF 2005)

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Directive by the Prime Minister and Minister of Finance

for the Issue of Lm 20,000,000 5 % Malta Government Stock 2021

(First Issue)

Fungibility Issue

IN exercise of the powers conferred by the Budget Measures

Implementation Act, 2005 and by article 4(1)(a) of the Local Loans

(Registered Stock and Securities) Ordinance, the Prime Minister and

Minister of Finance has authorised that the sum of Lm20,000,000 5%

Malta Government Stock be issued as follows> -

This Stock shall be issued as set out in the prospectus.

All persons and, or entities are eligible to apply for this Stock.

Allotment will be applied as set out in the prospectus.

( a) In terms of the Financial Markets Act, Cap.345, when

the Stock has been allotted, an application shall be made for the Stock

to be placed on the official list and for trading on the Malta Stock

Exchange.

(b) On the 8 th August, 2005 after the payment of the first

dividend, this Stock will be integrated with the existing issue 5% Malta

Government Stock 2021 and shall thereafter both be deemed to be one

Stock.

The sum of money to be raised by the Stock shall be

Sum of money to be

Lm20,000,000.

Interest at the rate of Lm 2.50, 0 for every Lm100 Stock will be

payable half-yearly in arrear on the 8 th day of February and on the 8 th

day of August in every year for the duration of the Stock. The first pro-

rata payment covering the period from the 23 rd day of March, 2005 to the

8 th day of August, 2005 shall be made on the 8 th day of August, 2005.

The Stock shall be redeemed at par on the 8 th August, 2021.

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press