Republic of Hungary


Re:  Republic Of Hungary
     EUR 500,000,000.00
     MATURING: 02-Nov-2012
     ISIN: XS0234096237

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
04-Feb-2008 TO 02-May-2008 HAS BEEN FIXED AT 4.424000 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 02-May-2008 WILL AMOUNT TO:
EUR 10.81 PER EUR 1,000.00 DENOMINATION



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