News Release
UK Government Euro and ECU Treasury Bills

01 December 1998

The Bank of England today announced the issue by Her Majesty's Treasury of E1,000 million nominal of UK Government Euro Treasury Bills, for tender on a bid-yield basis on Tuesday, 8 December 1998 in the following maturities:

E 200 million for maturity on 14 January 1999,
E 500 million for maturity on 11 March 1999 and
E 300 million for maturity on 10 June 1999.

An additional E 50 million nominal of six-month Bills, maturing on 10 June 1999, 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.

Statistics showing the turnover of UK Government Euro and ECU Treasury Bills by market makers in November 1998 are attached.