AI64 Hsbc Bk. 29

    Municipality Finance Plc

RE: MUNICIPALITY FINANCE PLC
EUR 100,000,000.00
MATURING: 30-Jan-2007
ISSUE DATE: 30-Jan-2002
ISIN: XS0142472207

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
31-Jul-2006 TO 30-Jan-2007 HAS BEEN FIXED AT 3.300000 PCT

DAY BASIS 183/360

INTEREST PAYABLE VALUE 30-Jan-2007 WILL AMOUNT TO:
EUR 16,775.00 PER EUR 1,000,000.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881

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