New dealers to the Euro Medium Term Note Programme

The Programme has been used effectively both for private placements and public syndicated bond issues. During the year 2000 44 transactions amounting to the equivalent of EUR 1,846 billion were executed under the Programme.

New dealers are Barclays Capital, HSBC and RBC Dominion Securities. Lehman Brothers’ appointment as a dealer in the programme was removed. Arranger of the Programme is Morgan Stanley & Co. International Limited. The changes reflect the growing importance of Sterling markets in NIB’s funding in the year 2000, with about 50 % of the total being raised therefrom.

The NIB Programme enjoys the highest possible credit rating, AAA/Aaa, which has been confirmed in connection with the update of the Programme by both Standard & Poor´s and Moody´s.

The dealers of the Programme are:

ABN Amro, Barclays Capital, BNP Paribas, Deutsche Bank, Goldman Sachs International, HSBC, JP Morgan, Merrill Lynch International, Morgan Stanley & Co. International Limited,RBC Dominion Securities, Schroder Salomon Smith Barney, Tokyo-Mitsubishi International plc and UBS Warburg.