OLO 57 Pricing

Press release from the Belgian Debt Agency

The 2 % EURO 5 billion OLO 57 benchmark issue, maturing 28th March, 2012 for the KINGDOM OF BELGIUM, rated Aa1/AA+, is now priced.

Issue/Reoffer price is 99.614, to yield mid-swaps minus 6 bp, equivalent to 36 bps over the Bund Jan-2012. Payment date 30 th June, 2009.

Short first coupon on 28th March, 2010. Listing Brussels. Belgian law. No XD, no NP.FM2 (with prior consultation with the issuer) applies.

Joint leads and books : Barclays Capital, Fortis Bank, J.P. Morgan and UBS Investment Bank.

Co-lead group : Calyon, Citigroup, Deutsche Bank, Dexia, Commerzbank, Goldman Sachs, ING, HSBC, KBC, Morgan Stanley, Royal Bank of Scotland and Société Générale.

Selling group : Nomura International and Nordea.