Press Release - further decreasing government securities supply

In order to ease the imbalance experienced in the government securities market and to stabilize the market ÁKK Zrt. is
further decreasing government securities supply, effective in the remaining part of the year.

Press release

In order to ease the imbalance experienced in the government securities market and to stabilize the market ÁKK Zrt. is

further decreasing government securities supply, effective in the remaining part of the year. ÁKK Zrt. is cancelling all

remaining bond auctions previously scheduled in its 2008 issuance calendar. Furthermore, the amounts offered at Discount

Treasury Bill auctions will be set according to actual money market conditions. With these measures ÁKK Zrt. intends to ease

the supply side pressure in the secondary market of government securities; to further enhance the efficiency of secondary

market price quotation and to return the trading activity back to usual. This step is an integral part of the series of

measures jointly taken by ÁKK Zrt., the National Bank of Hungary and the Primary dealers aiming at restoring the normal

operation of the government securities market and thus supporting the consolidation of the Hungarian money and capital

markets.

Budapest, 29 October 2008

ÁKK Zrt.

Contents

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    HGB and T-bill calculator
    Date: settlement date; minimum value: 01-01-2003; the date on which securities must be delivered and paid for to complete a transaction
    Type: DKJ - discount treasury bills, KTV - treasury bonds
    Convention: calculation method: ISMA (Act/Act) or EHM (Act/365 No Leap)
    Security: T-Bond or T-Bill denominated in HUF
    Yield %: yield to maturity, the percentage rate of return paid if the security is held to its maturity date
    Clean Price %: net present value of selected security, if it is not the input field, then = gross price% - acc. interest%
    Acc. Interest %: the amount of interest accumulated but not paid between the issue date or most recent payment and the settlement date
    Gross Price %: present value of selected security, if it is not the input field, then = clean price% + acc. interest%
    Face Value: optional positive integer value, Net Price, Acc. Ineterst and Gross Price will be recalculated
    Net Price: Clean Price% * face value
    Acc. Interest: Acc. Interest% * face value
    Gross Price: Gross Price% * face value