Press release on the Eurobond issue of the Republic of Hungary

The Government Debt Management Agency Ltd. (ÁKK Rt.) mandated Dresdner Kleinwort Wasserstein and Schroder Salomon Smith Barney to lead manage a EUR 1 Billion 10 year Eurobond issue for the Republic of Hungary.

The timing of launching and pricing is expected by the end of January or the beginning of February.

The proceeds will be used to re-finance public debt maturing in 2003.

Budapest 14th, January 2003.



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