New KoB issue in US Dollar 2013 - Pricing

Press release from the Belgian Debt Agency

The Kingdom of Belgium (Aa1/AA+/AA+) 2 billion US Dollar issue, maturing 3 Sept, 2013 is now priced.

Issue/reoffer price is 99.573, to give a spread of 70,35 bp over UST 3.5% due May 2013 [equivalent to Midswaps minus 23 bp].

Payment date is 1st July, 2008. Fees total 10 cts. Listing Luxemburg. Belgian Law. 144A/Reg S. No XD, No NP. FM ICMA2 (with prior consultation with the issuer) applies.

Denoms US$ 1.000. Dematerialised form created in the Securities Settlement System operated by National Bank of Belgium (NBB). Cleared and settled in NBB, Euroclear and Clearstream. Paying Agent NBB.

Joint leads and books : Barclays Capital, Deutsche Bank, JP Morgan and Morgan Stanley.

Co-lead group :   HSBC and Fortis bank. Stabilization: FSA/ICMA