REDEMPTION OF 14 PER CENT TREASURY STOCK 1998-2001

In accordance with the conditions of issue of 14 per cent Treasury Stock 1998-2001 set out in the prospectus dated 23rd November 1979 issued by the Bank of England, Her Majesty’s Treasury hereby gives notice that it will redeem at par all of 14 per cent Treasury Stock 1998-2001 on 22nd May 1998. This is the standard six-monthly interest payment date for this Stock. Arrangements for the repayment of holdings of the Stock are set out below.   Registers of the Stock are kept by the Bank of England, the Bank of Ireland, Belfast and National Savings.   The final interest payment will be payable on 22nd May 1998 to, or in accordance with the instructions of, the persons registered as holders on 13th May 1998 (8th May 1998 in the case of holders on the National Savings Stock Register) at the rate of £7 per £100 nominal of Stock.   Redemption monies will be payable on 22nd May 1998 to, or in accordance with the instructions of, the persons registered as holders on 13th May 1998 (8th May 1998 in the case of holders on the National Savings Stock Register), after which date no further transfers will be registered. The latest date on which postal transfers will be accepted for registration is 12th May 1998 (7th May 1998 in the case of holders on the National Savings Stock Register).   Redemption request forms will be issued to Stockholders in due course by the relevant registrars. HM Treasury,   Parliament Street, London SW1P 3AG. 18th February 1998.