As from 1 April 2005, banks in Malta shall quote and publish the exchange rate of the Maltese lira against the euro solely in terms of units of Maltese lira per one euro, eg. EUR 1 = MTL 0.4330 and, as such, conform with the market convention for quotations for the euro against other currencies. All dealings in euro against the Maltese lira will, as such, be transacted at the day’s applicable exchange rate quoted on this basis. As regards the exchange rate of the Maltese lira against all the other currencies, the rate shall continue to be quoted in terms of number of units of foreign currency per one Maltese lira, as at present, eg. MTL 1 = USD 3.0990, MTL 1 = GBP 1.6143, and so on.

Note: Rates used in examples are those of 14 March 2005.