| T-bond auctions |
| **Auction Results** |
| ISIN CZ0001007512 |
| Issue Name GBVAR/38 |
| Issuer MF |
| Total Bid Amount (CZK bln) 11.72000 |
| of that Competitive Bids (CZK bln) 4.32000 |
| of that Non-Competitive Bids (CZK bln) 0.01000 |
| Total Sold Amount (CZK bln) 10.00000 |
| of that Competitive Bids (CZK bln) 2.60000 |
| of that Non-Competitive Bids (CZK bln) 0.01000 |
| Purchased by Issuer (CZK bln) 7.39000 |
| Highest Allocated Price 96.920 |
| Lowest Allocated Yield (% p.a.) 29.803 |
| Average Allocated Price 96.911 |
| Average Allocated Yield (% p.a.) 29.892 |
| Cut-off Price 96.910 |
| Cut-off Yield (% p.a.) 29.902 |
| Allocation Ratio at Cut-off Price (%) 100.00000 |
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| * YIELDS ARE CALCULATED FROM THE RESPECTIVE PRICES. IN CASE OF FLOATER |
| THE DISCOUNT MARGIN IS PUBLISHED. |
| The T-bond issue calendar is on HTTP://WWW.MFCR.CZ/ |