Treasury Bills Registration Number                                  TB -182-09012008

Auction Date                                                                 09 January 2008

Settlement Date                                                             11 January 2008

Maturity Date                                                                 11 July 2008

Amount Offered (Face Value)                                          M 30 million

Total of bids received:                                                    

    Competitive                                                    M 20,2 million

    Non-competitive                                              M   4,6 million

 Amount Issued                                                   M 24,8 million

 Allocation Price of successful bids:        

     Competitive                               94.790

     Non-competitive                         94.890

Equivalent Discount Rate:

      Competitive                              10.4486%

      Non-competitive                        10.2486%

 Equivalent Annual Effective Yield:

     Competitive                               11.3275%

     Non-competitive                         11.0924%

Allocation at the cut-off                                                   82.82%

 Range of successful prices                                      97.740 - 94.790

Range of unsuccessful prices                                          0 - 0