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-Aug-2007 TO 02-Nov-2007 HAS BEEN FIXED AT 4.310000 PCT

DAY BASIS 92/360

INTEREST PAYABLE VALUE 02-Nov-2007 WILL AMOUNT TO:
EUR 11.01 PER EUR 1,000.00 DENOMINATION.
EUR 110.14 PER EUR 10,000.00 DENOMINATION.
EUR 1,101.44 PER EUR 100,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855
FAX: 44 20 7508 3866
Email: rate.fixing@citigroup.com

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