73IQ Investec Bnk 23

    

Republic of Hungary

RE: REPUBLIC OF HUNGARY

EUR 500,000,000.00

MATURING: 02-Nov-2012

ISSUE DATE: 02-Nov-2005

ISIN: XS0234096237


PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD

02-Nov-2006 to 02-Feb-2007 HAS BEEN FIXED AT 3.614000 PCT


DAY BASIS 92/360


INTEREST PAYABLE VALUE 02-Feb-2007 WILL AMOUNT TO:

EUR 9.24 PER EUR 1,000.00 DENOMINATION

EUR 92.36 PER EUR 10,000.00 DENOMINATION.

EUR 923.58 PER EUR 100,000.00 DENOMINATION.


IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON

TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881

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