News Release
UK Government ECU Treasury Bills

05 May 1998

1. The Bank of England today announced the issue by Her Majesty's Treasury of ECU 1,000 million nominal of UK Government ECU Treasury Bills, for tender on a bid-yield basis on Tuesday, 12 May 1998 in the following maturities:

ECU 200 million for maturity on 11 June 1998,
ECU 500 million for maturity on 13 August 1998 and
ECU 300 million for maturity on 12 November 1998.

An additional ECU 50 million nominal of six-month Bills, maturing on 12 November 1998, will be allotted directly to the Bank of England for the account of the Exchange Equalisation Account. A copy of the tender notice published by the Bank is attached.

2. Statistics showing the turnover of UK Government ECU Treasury Bills by market makers in April 1998 are attached.