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Launch of MTS Austrian Market

London, June 17, 2003 – EuroMTS today announced the launch of MTS Austrian Market, a segment of EuroMTS, listing all Austrian government bonds with a minimum outstanding size of at least €3 billion. The segment will complement trading of Austrian benchmark government bonds on EuroMTS alongside European benchmarks that meet the €5 billion minimum listing criteria of the platform.

“The listing of Austrian bonds on a dedicated MTS segment will improve market transparency and efficiency, and with the proven MTS market making model, will consequently buoy their liquidity," said Helmut Eder, Managing Director at the Austrian Federal Financing Agency.

Gianluca Garbi, Chief Executive Officer of EuroMTS said: “The launch of MTS Austrian Market advances our efforts toward consolidation in the European bond markets and reinforces our business model, which provides both a central wholesale market for Eurobenchmark bonds as well as domestic markets designed to boost liquidity for the respective national debt.”

MTS Austrian Market has already secured the support of 20 Market Makers and 20 Market Takers. Market Makers on the segment include: ABN AMRO, Barclays Bank, BNP Paribas, BHV Group, CDC IXIS, CitiGroup, Credit Agricole Indosuez, CSFB, Deutsche Bank, Dresdner Bank, DZ Bank, Goldman Sachs International, HSBC CCF, ING Bank, JP Morgan, Merrill Lynch, Morgan Stanley, Nomura, Société Générale and UBS. 12 issues are currently eligible for trading on MTS Austrian Market.