HSBC Bank Malta plc announced that it is offering €25 million in 5.90% per annum subordinated bonds redeemable in 2018. The bond issue is subject to an over-allotment option not exceeding €5 million. The nominal value of the bonds on offer will be repayable in full upon redemption.

Applications can be made for a minimum of €2,500 and thereafter in multiples of €100. The offer will open on 24 September until 30 September 2008. The offer may close earlier, without prior notice, if fully subscribed.

“We believe this bond issue represents a good investment opportunity for the local market with an attractive rate of interest,” said HSBC Bank Malta’s Chief Executive Officer, Alan Richards. “We think it provides a good long term investment opportunity for both small investors and institutions.”

The bank has lodged an application for the listing of the bonds on the Malta Stock Exchange. Charts Investment Management Service Ltd have been mandated to act as sponsoring stockbrokers.

More information may be found in the prospectus dated 15 September. The prospectus and application forms can be obtained from any HSBC branch, ShareShops and authorised distributors. One may also call HSBC’s Customer Service on 2380- 2380 or visit the website www.hsbc.com.mt.

The value of investments can go up or down and past performance is not necessarily indicative of future performance. An investor should consult an independent financial adviser, licensed under the Investment Services Act (Cap. 370 of the Laws of Malta) for advice.

HSBC Bank Malta p.l.c. is licensed by the Malta Financial Services Authority to conduct investment services business.