The Government Debt Management Agency Ltd. (ÁKK Rt.) has mandated BNP Paribas and Dresdner Kleinwort to lead manage the forthcoming increase of the EUR 500 Million Floating Rate Note of the Republic of Hungary due in 2012.

The launch and pricing of the bond is expected in the second half of September.

The proceeds will be used for general financing purposes.

September 1, 2006.