REG-UK Debt Management Office Issue of Debt

LONDON--(Business Wire)--

AUCTION OF UK GOVERNMENT SECURITY (GILT)

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Auction Details
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Auction Date Tuesday, 29 January 2008
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Issue and Settlement Date Wednesday, 30 January 2008
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Bidding Convention Uniform Price (see Note 1)
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Uplifted accrued interest payable with bid £0.362321 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 1⅞% Index-linked Treasury Gilt 2022
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Amount (nominal) for issue £1,100 million (fungible with previous issues)
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Nominal outstanding after issue £4,481 million (£4,567.9 million uplifted)
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Maturity Date 22 November 2022
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Interest Dates 22 May and 22 November
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Parent ISIN Code GB00B1Z5HQ14
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Parent SEDOL Code B-1Z5-HQ1
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Reference Index applicable to first issue date 205.65806 (as at 11 July 2007) (see Note 4)
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Index Ratio at 30 January 2008 1.01940
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Interest Payable Gross (see Note 2)
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Next Interest Date 22 May 2008 (Standard Coupon) (see Note 3)
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"When Issued" Trading under London Stock Exchange Rule 1530
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Commences 3:30pm London Time: 22 January 2008
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Closes Close of business: 29 January 2008
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"When issued" ISIN Code GB00B29WMJ32
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"When issued" SEDOL Code B-29W-MJ3
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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. Index-linked Gilt-edged Market Makers may bid by means
of the Bloomberg Bond Auction System to the DMO not later than 10.30 am on
Tuesday 29 January 2008.

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.

Note 3: Actual amount of interest per £100 nominal is £0.9375 x Index Ratio for
22 May 2008 and expressed as a percentage in pounds sterling to six places of
decimals and rounded to the nearest figure.

Note 4: The Reference Index for the first calendar day of any calendar month
shall be the Retail Price Index figure for the calendar month falling three
calendar months earlier. The Reference Index for any other day in the month
shall be calculated by linear interpolation between the Reference Index
applicable to the first calendar day of the month in which the day falls and the
Reference Index applicable to the first calendar day of the month immediately
following. Interpolated values for the Reference Index for any date should be
rounded to the nearest 5th decimal place.

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Documentation
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Prospectus
www.dmo.gov.uk/documentview.aspx?docName=/gilts/public/prospectus/prosp220108.pdf
DMO : 22 January 2008
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Information Memorandum relating
to the Issue, Stripping and
Reconstitution of British www.dmo.gov.uk/documentview.aspx?docname=publications/operationalrules/infmem200807.pdf
Government Stock

DMO : August 2007
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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, BS99 6WX to arrive not later than
10.00 am on Tuesday 29 January 2008. 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 29 January 2008.

The amount payable on application in the case of a non-competitive bid made by a
member of the Approved Group is £119 per £100 nominal of the Gilt.

Remit 2007-08

Gilt sales of £58.4 billion (cash) are planned in 2007-08.

UK Debt Management Office

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