Issue of Debt

TENDER FOR £250 MILLION (NOMINAL) OF 1¼% INDEX-LINKED TREASURY GILT 2055 ON WEDNESDAY 5 NOVEMBER 2008

The UK Debt Management Office (DMO) announces the sale by tender of up to £250 million (nominal) of 1¼% Index-Linked Treasury Gilt 2055 on Wednesday 5 November 2008.

Details of the tender are as follows:

- It will be conducted on a single price basis, with no non-competitive bidding facility;

- GEMM firms may each submit an unlimited number of bids via Bloomberg Auction System, either for their own account or on behalf of customers, to two decimal places and in multiples of round GBP millions (nominal);

- Bidding will close at 10:30am precisely;

- There will be no maximum allocation limit on GEMM or end investor institutions, and the DMO reserves the right not to accept bids deemed to be at an unacceptable discount to the prevailing secondary market price. Any unallocated residual will not be issued.

The results of this tender will be announced on the DMO's wire services pages and website <www.dmo.gov.uk> as soon as practicable after 10:30am on 5 November 2008. Settlement will be on the following day, Thursday 6 November 2008, for which the DMO's standard settlement arrangements will apply.