30 June 2005: Reverse auction result

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Agence France Trésor proceeded to a reverse auction on Thursday, June 30th 2005, at 11a.m. The amount offered was €12445m and the amount purchased was €3876m on the following lines:



OAT 4% October 2009

Amount offered: €1475m

Amount purchased: €570m

Limit accepted price: 106.41%

Pct at limit price: 100%

Average yield: 2.42%.



BTAN 3.5% January 2009

Amount offered: €4870m

Amount purchased: €1028m

Limit accepted price: 104.05%

Pct at limit price: 80%

Average yield: 2.29%.



BTAN 2.25% March 2006

Amount offered: €3592m

Amount purchased: €575m

Limit accepted price: 100.16%

Pct at limit price: 100%

Average yield: 2.01%.



OAT TEC 25 October 2006

Amount offered: €2508m

Amount purchased: €1703m

Limit accepted price: 100.44%

Pct at limit price: 100%





The settlement will take place on July 5th 2005.







Press Contact:

Agence France Trésor

Corinne Dromer

+331.40.04.15.50