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| 25 february 2010 |
| Ref: 10-08m-02-11-H |
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| Auction for sale of makam |
| Further to our ref: 03-4-02-11-H' dated 25.06.08 |
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| Type of auction |
Discriminatory auction for
effective yield to maturity |
| Payment date |
3 March 2010 |
| Last date for submission of bids for makam purchase |
2 March 2010 |
| Latest time for submission of bids for makam purchase |
12:30 |
| Maximum yield |
Determined, but not published1 |
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| Series number |
311 |
| Stock exchange series number |
8110314 |
| Maturity date |
2 march 2011 |
| Days to maturity |
364 |
| Amount offered in auction1 (NIS million, face value) |
10,000 |
| Amount offered at average weighted yield2 |
3 |
| (NIS million, face value) |
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| Series number |
610 |
| Stock exchange series number |
8100612 |
| Maturity date |
2 June 2010 |
| Days to maturity |
91 |
| Amount offered in auction1 (NIS million, face value) |
2,000 |
| Amount offered at average weighted yield2 |
3 |
| (NIS million, face value) |
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| 1 Yield bids higher than the maximum yield determined by the Bank of Israel prior to any particular auction (even if not published) will not be taken into account in the allocation of quantities and in determining the yield in the auction, and will not be acknowledged. Hence, it may be that the Bank of Israel does not sell the full quantity offered. |
| 2 The average weighted yield of successful bids in the discriminatory auction. If the total quantity of the bids for the amount offered in this category is smaller than the amount offered, the difference will be added to the total amount in the discriminatory auction. Allocation of quantities and determination of the prices in the discriminatory auction will be implemented on the basis of the total quantity including the quantity added as specified herein. |
| 3 The issuance program of makam and future makam is published once a month (at the beginning of the month). |
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| Please note the legislation regarding the income-tax reform. |
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| Barry Topf |
| Director, Market Operations Department |
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