News Release
08 September 2003

TREASURY BILL (TENDER)

Tenders are invited for a total of $300 000 000.00 Jamaica Treasury Bills to be issued in accordance with this notice and the Standard Terms and Conditions for Applications/Tenders for Government of Jamaica Securities and redeemed as follows:

Offer                         Issue Date                Maturity Date                Tenor
          300 000 000                2003 09 12                 2004 06 11                      273 days           

The bills will be issued on a discount basis under competitive and non-competitive bidding.

Tenders from public sector entities should be made under non-competitive bidding and will be accepted at the weighted average bank discount rate of accepted competitive tenders.  Applications from public sector entities should be made through the Bank of Jamaica on tender date. 

Persons applying for amounts of up to $5 000.00 have the option of making a competitive bid or of applying without specifying a price.  In the latter case, an allocation will be made at the weighted average rate of accepted competitive bids. Persons applying for amounts above $5 000.00 must place a competitive bid.

Tenders from the public should be no later than 10:45 a.m. on Wednesday, 10 September 2003.

Tender rates for competitive bids should not exceed five (5) decimal places.

Payment for bills must be made by Managerís Cheque payable to the Bank of Jamaica, which must accompany each tender, or by electronic transfer.

The Bank reserves the right to reject any tender.

Bills should be taken up at the Bank of Jamaica within ten (10) business days of the issue date by applicants or their accredited representatives.

Bank of Jamaica