The auction, which will be on a bid-yield basis, will take place on Tuesday 20 January 2004. An additional €1,200 million nominal of Notes will be allotted directly to the Bank of England. Of these Notes, €100 million nominal will be available for sale and repurchase operations with market makers for the Bank of England Euro Note programme and €1,100 million nominal will be held by the Bank with the intention that they will be sold in a subsequent auction or may be made available for sale and repurchase operations with the market makers. The Notes will be issued on Thursday 29 January 2004, to mature on Monday 29 January 2007. This will be the fourth issue of Bank of England Euro Notes, following the announcement of 21 March 2000 setting out arrangements for the Bank of England to replace HM Treasury as issuer of Notes denominated in euro.