Issue of Debt

LONDON--(BUSINESS WIRE)--

United Kingdom Debt Management Office	Eastcheap Court 11 Philpot Lane London EC3M 8UD   Tel. [phone] Fax. [phone]
	21 February 2012

PRESS NOTICE

AUCTION OF BRITISH GOVERNMENT STOCK

Auction Details
Auction Date	Thursday, 1 March 2012
Issue and Settlement Date	Friday, 2 March 2012
Bidding Convention	Fully paid Bid Price (see Note 1)
Rebate interest to be deducted from amount payable with bid	£0.054945 per £100 nominal
Auction Close	10:30am London Time

Details of Security
Title	4% Treasury Gilt 2022
Amount (nominal) for auction	£2,750 million (fungible with previous issues) (see Note 3)
Nominal outstanding after auction	£31,065 million
Maturity Date	7 March 2022 at par
Interest Dates	7 March – 7 September
Parent ISIN Code	GB00B3KJDQ49
Parent SEDOL Code	B-3KJ-DQ4
Strippable	Yes, since 29 April 2009
Interest Payable	Gross (see Note 2)
Next Interest Date	7 September 2012 (Standard Coupon)

“When Issued” Trading	under London Stock Exchange Rule 1530
Commences	3:30pm London Time: 21 February 2012
Closes	Close of business: 1 March 2012
“When issued” ISIN Code	GB00B7F9S735
“When issued” SEDOL Code	B-7F9-S73
TIDM (for trade reporting)	AUC

Note 1: Bids may be made on either a competitive or a non-competitive basis. Details of the bidding procedures are set out in the prospectus and in the Information Memorandum. Gilt-edged Market Makers may bid by means of the Bloomberg Bond Auction System to the DMO not later than 10.30 am on Thursday, 1 March 2012.

Note 2: Holders may elect to have United Kingdom income tax deducted from interest payments, should they so wish, on application to the Registrar, Computershare Investor Services PLC.

Note 3: Subject to the provisions of the Information Memorandum, this auction will be eligible for the Post Auction Option Facility of an additional amount of the Gilt equivalent to 10% of the nominal amount of the Gilt allocated at the auction. Details of the Post Auction Option Facility procedures are set out in the Information Memorandum.

Documentation
Prospectus DMO : 21 February 2012	http://www.dmo.gov.uk/documentview.aspx?docName=/gilts/public/prospectus/prosp210212.pdf
Information Memorandum relating to the Issue, Stripping and Reconstitution of British Government Stock DMO : August 2011	http://www.dmo.gov.uk/documentview.aspx?docName=/publications/operationalrules/infmemadd150811.pdf
Formulae for Calculating Gilt Prices from Yields DMO : 16 March 2005	www.dmo.gov.uk/documentview.aspx?docname=/giltsmarket/formulae/yldeqns.pdf

Applications from Members of the Approved Group of Investors

Application forms from Approved Group members must be sent to Computershare Investor Services PLC, who are acting on behalf of the DMO, at the following address: PO Box 2411, The Pavilions, Bristol, BS99 6WX to arrive not later than 10.00 am on Thursday, 1 March 2012. They may also be lodged by hand at the DMO, Eastcheap Court, 11 Philpot Lane, London, EC3M 8UD not later than 10.00 am on Thursday, 1 March 2012.

The amount payable on application in the case of a non-competitive bid made by a member of the Approved Group is £118.50 per £100 nominal of the Gilt.

Remit 2011-12

Gilt sales of £178.9 billion (cash) are planned in 2011-12