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Press release on the special meeting of the Monetary Council of 16 October 2008

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16 October 2008

At its special meeting on 16 October 2008, the Monetary Council reviewed the functioning of the market for forint-denominated government securities and decided to introduce two new lending facilities:

            1 A weekly tender for two-week, fixed-rate secured loans, for an unlimited amount.
            2 A regular tender for six-month, variable-rate secured loans, for a pre-specified amount.

The Monetary Council will take a decision on the detailed terms and conditions for the new lending facilities at its forthcoming meeting on 20 October 2008.


MAGYAR NEMZETI BANK

Monetary Council