OLO 47 Pricing

Press release from the Belgian Debt Agency

The 3,25% EURO 5 billion OLO47 for the KINGDOM OF BELGIUM, rated Aa1/AA+, is now priced. Issue/Reoffer price is 99,337% to give a spread of 6,5 bp over the Jan 2016 BUND, which is equivalent to 4.5 bp over the Oct 2016 OAT. Payment date January 24th, 2006. Short first coupon on 28th September, 2006. Fees total 15 cts, split 5 cts m+u & 10 cts selling. Listing Brussels . Belgian law. No XD, no NP.FM2 (with prior consultation with the issuer) applies. ICMA/FSA Stabilisation. Joint leads and books : ING, JP Morgan and SG CIB . Co-lead group : ABN-AMRO, Barclays, BNP-Paribas, Calyon, Citigroup, CSFB, Deutsche Bank, Dexia, Fortis, Goldman Sachs, HSBC, KBC Bank, Nomura and UBS Selling group : Caixa Geral, IMI, Lehman Brothers, Morgan Stanley and Nordea