REG-UK Debt Management Office Issue of Debt

LONDON--(Business Wire)--

AUCTION OF UK GOVERNMENT SECURITY (GILT)

Auction Details
Auction Date Tuesday, 23 June 2009
Issue and Settlement Date Wednesday, 24 June 2009
Bidding Convention Fully paid Bid Price (see Note 1)
Accrued Interest payable with bid £1.273180 per £100 nominal
Auction Close 10:30am London Time

Details of Security
Title 4% Treasury Gilt 2022
Amount (nominal) for auction £4,000 million (fungible with previous issues) (see Note 3)
Nominal outstanding after auction £9,750 million
Maturity Date 7 March 2022 at par
Interest Dates 7 March - 7 September
Parent ISIN Code GB00B3KJDQ49
Parent SEDOL Code B-3KJ-DQ4
Strippable Yes, since 29 April 2009
Interest Payable Gross (see Note 2)
Next Interest Date 7 September 2009 - £2.088398 per £100 nominal
(Long First Coupon)

"When Issued" Trading under London Stock Exchange Rule 1530
Commences 3:30pm London Time: 16 June 2009
Closes Close of business: 23 June 2009
"When issued" ISIN Code GB00B4YQW278
"When issued" SEDOL Code B-4YQ-W27
TIDM (for trade reporting) AUC

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. 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, 23
June 2009.

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: Subject to the provisions of the Information Memorandum, this auction
will be eligible for the Post Auction Option Facility of an additional amount of
the Gilt equivalent to 10% of the nominal amount of the Gilt allocated at the
auction. Details of the Post Auction Option Facility procedures are set out in
the prospectus and in the Information Memorandum.

Documentation
Prospectus www.dmo.gov.uk/documentview.aspx?docName=/gilts/public/prospectus/prosp160609.pdf

DMO : 16 June 2009
Information Memorandum relating www.dmo.gov.uk/documentview.aspx?docname=publications/operationalrules/infmem220509.pdf
to the Issue, Stripping and
Reconstitution of British
Government Stock

DMO : May 2009
Formulae for Calculating Gilt www.dmo.gov.uk/documentview.aspx?docname=/giltsmarket/formulae/yldeqns.pdf
Prices from Yields

DMO : 16 March 2005

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, 23 June 2009. 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, 23 June 2009.

The amount payable on application in the case of a non-competitive bid made by a
member of the Approved Group is £103.50 per £100 nominal of the Gilt.

Remit 2009-10
Gilt sales of £220.0 billion (cash) are planned in 2009-10.

UK Debt Management Office

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