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UKDMO (AUC)

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Tuesday 02 January, 2007

UKDMO

Issue of Debt

UK Debt Management Office
                  
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United Kingdom                                                                        Eastcheap Court
Debt                                                                                  11 Philpot Lane
Management                                                                            London EC3M 8UD
Office
                                                                                      Tel. 0845 357 6500
                                                                                      Fax. 0845 357 6509
01/07                                                                                 2 January 2007
                                                      PRESS NOTICE
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AUCTION OF UK GOVERNMENT SECURITY (GILT)

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Auction Details
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Auction Date                         Tuesday, 9 January 2007
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Issue and Settlement Date            Wednesday, 10 January 2007
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Bidding Convention                   Fully paid Bid Price (see Note 1)
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Accrued Interest payable with bid    £0.396978 per £100 nominal
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Auction Close                        10:30am London Time
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Details of Security
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Title                                4¼% Treasury Gilt 2027
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Amount (nominal) for issue           £2,250 million (fungible with previous issues)
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Nominal outstanding after issue      £9,000 million
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Maturity Date                        7 December 2027 at par
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Interest Dates                       7 June - 7 December
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Parent ISIN Code                     GB00B16NNR78
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Parent SEDOL Code                    B-16N-NR7
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Strippable                           Yes, since 6 December 2006
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Interest Payable                     Gross (see Note 2)
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Next Interest Date                   7 June 2007 (Standard Coupon)
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'When Issued' Trading                under London Stock Exchange Rule 7265
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Commences                            3:30pm : 2 January 2007
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Closes                               Close of business : 9 January 2007
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'When issued' ISIN Code              GB00B1L6VV18
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'When issued' SEDOL Code             B-1L6-VV1
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TIDM (for trade reporting)           AUC
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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 (as amended). Gilt-edged Market Makers may bid by
telephone to the DMO not later than 10.30 am on Tuesday, 9 January 2007.

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.

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Documentation
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Prospectus                    www.dmo.gov.uk/documentview.aspx?docName=/gilts/public/prospectus/prosp020107.pdf
DMO : 2 January 2007
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Information Memorandum
 relating to the Issue,
 Stripping and Reconstitution www.dmo.gov.uk/documentview.aspx?docname=publications/operationalrules/infmem211204.pdf
 of British Government Stock
DMO : December 2004
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Notice of Amendment           www.dmo.gov.uk/documentview.aspx?docname=publications/operationalrules/infmemadd130505.pdf
DMO : 13 May 2005
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Notice of Amendment           www.dmo.gov.uk/documentview.aspx?docname=publications/operationalrules/infmemadd130905.pdf
DMO : 13 September 2005
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Formulae for Calculating Gilt
 Prices from Yields           www.dmo.gov.uk/documentview.aspx?docname=/giltsmarket/formulae/yldeqns.pdf
DMO : 16 March 2005
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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, BS3 9WX to arrive not later than
10.00 am on Tuesday, 9 January 2007. 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
Tuesday, 9 January 2007.

The amount payable on application in the case of a non-competitive bid made by a
member of the Approved Group is £103 per £100 nominal of the Gilt.

Remit 2006-07

Gilt sales of £62.5 billion (cash) are planned in 2006-07, the split is
summarised in the table below.