OLO 54 Pricing

Press release from the Belgian Debt Agency

The 4% EURO 5 billion OLO54 benchmark issue, maturing 28th March, 2014 for the KINGDOM OF BELGIUM, rated Aa1/AA+, is now priced.

Issue/Reoffer price is 98.872, to give a spread of 32 bp over the BUND 4.25% due Jan 2014, equivalent to +15.70 bps over the OAT 4% due Apr 2014. Payment date April 24th, 2008.

Short first coupon on 28th March, 2009. Fees total 10 cts. Listing Brussels. Belgian law. No XD, no NP. FM2 (with prior consultation with issuer) applies.

Joint leads and books : Barclays Capital, Deutsche Bank, ING and SGCIB. Co-lead group : ABN-AMRO, Calyon, Citigroup, Dexia, Dresdner Kleinwort, Fortis, Goldman Sachs, HSBC, JP Morgan, KBC Bank, Morgan Stanley and UBS. Selling group : Lehman Brothers, Nomura International and Nordea