shall in the aggregate be Euro 70,000,000

L.N. 55 of 2009

LOCAL LOANS

(REGISTERED STOCK AND SECURITIES) ORDINANCE

(CAP. 161)

Directive by the Minister of Finance, the Economy and

Investment for the Issue of Euro 70,000,000

(i) 3.6% Malta Government Stock 2013 (IV)

(FOURTH ISSUE)

or;

(ii) 5% Malta Government Stock 2021 (I)

(FIRST ISSUE) (Fungibility Issue)

or of;

(iii) Any combination of the above two Stocks

shall in the aggregate be Euro 70,000,000

IN exercise of the powers conferred by article 4(1)(a) of the

Local Loans (Registered Stock and Securities) Ordinance, the

Minister of Finance, the Economy and Investment has authorised

that the sum of Euro 70,000,000 be issued as follows:-

(i) 3.6% Malta Government Stock 2013(IV); or

(ii) 5% Malta Government Stock 2021(I) Fungibility

Issue; or of

(iii) Any combination of the above two Stocks shall in

the aggregate be Euro 70,000,000

These Stocks shall be issued as set out in the prospectus.

All persons and, or entities are eligible to apply for these

Stocks. Allotment will be applied as set out in the prospectus.

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

when these Stocks have been allotted, an application shall be made

for the respective Stock to be placed on the official list and for

trading on the Malta Stock Exchange.

(b) On the 8th August 2009, after the payment of the

first dividend, any amount allotted under 5.0% Malta Government

Stock 2021 (I) will be integrated with the existing issue of this Stock

and shall thereafter both be deemed to be one Stock.

The sum of money to be raised by either Stock, or of

any combination of the two Stocks shall in the aggregate be Euro

70,000,000. The Accountant General reserves the right to increase

the sum of money to be raised by a maximum of Euro 25,000,000.

(a) Interest at the rate of Euro 1.8 for every Euro 100,

3.6% Malta Government Stock 2013 (IV) will be payable half-yearly

in arrear on the 18th day of April and the 18th day of October in

every year for the duration of the Stock. The first pro-rata payment

covering the period from the 18th March, 2009 to the 17th day of

October, 2009 (both dates inclusive) shall be made on the 18th day

of October, 2009.

(b) Interest at the rate of Euro 2.50 for every Euro 100

5% Malta Government Stock 2021 (I) will be payable half-yearly

in arrear on the 8th day of February and the 8th day of August in

every year for the duration of the Stock. The first pro-rata payment

covering the period from the 18th March, 2009 to the 7th day of

August, 2009 (both dates inclusive) shall be made on the 8th day of

August, 2009.

(a) The 3.6% Malta Government Stock 2013(IV) shall

be redeemed at par on the 18th October, 2013.

(b) The 5% Malta Government Stock 2021(I) shall be

redeemed at par on the 8th August, 2021.

€0.19