Press release on the JPY 50 billion Samurai bond issue

On March 7, 2006 the Republic of Hungary launched its 4th series Samurai Bond.

The JPY 50 billion 7-year paper pays a fixed coupon of 1.67 % p.a., equalling to JPY Libor + 0.1%.

Samurai # 4
Amount: JPY 50 billion
Tenor: 7 years
Maturity: March 18, 2013.
Coupon: 1.67 % p.a.
Issue price: 100 %
Spread: JPY Libor + 10 bps

The deal was lead managed by Daiwa Securities SMBC Co Ltd and Nikko Citigroup Limited. As a result of the strong investor demand the size was increased from the original JPY 25 billion, a move by which the Republic has successfully widened its international investor base. The proceeds will be used for general funding purposes.

March 7, 2006

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