Lending Rates for LIBOR-Based Single Currency Loans (SCLS)

SPANISH PESETAS
(For Loans to Which Invitation to Negotiate
Was Extended Prior To July 31, 1998~)
Lending Rates for LIBOR-based* Single Currency Loans (SCLs)

Interest Period BeginningLending Rate**
15-JUL-1999 3.01
15-JUN-1999 2.79
15-MAY-1999 2.71
15-APR-1999 2.78
15-MAR-1999 3.17
15-FEB-1999 3.17
15-JAN-1999 3.25
15-DEC-1998 3.46
15-NOV-1998 3.85
15-OCT-1998 3.95
15-SEP-1998 4.10
15-AUG-1998 4.35
15-JUL-1998 4.37
15-JUN-1998 4.42
15-MAY-1998 4.42
15-APR-1998 4.48
15-MAR-1998 4.44
15-FEB-1998 4.64
15-JAN-1998 4.75
15-DEC-1997 4.92
15-NOV-1997 5.15
15-OCT-1997 5.27
15-SEP-1997 5.31
15-AUG-1997 5.46
15-JUL-1997 5.35
15-JUN-1997 5.43
15-MAY-1997 5.49
15-APR-1997 5.74
15-MAR-1997 5.99
15-FEB-1997 5.89
* Stated on 6MO LIBOR 30/360 day count basis.
** Applicable for disbursed amounts on fixed-rate SCLs prior to rate fixings. For loans negotiated in the current month, annuity-type amortization schedule is developed using the previous six-months average LIBOR-based SCL lending rates.