The auction results of the Bank of Botswana Certificates (BoBC) maturing on March 25, 2009 are summarised below.

Issue BoBC 250309
Total Subscribed (P million) 3 759.351
Total Allotment (P million) 3 500.000
Stop-Out Price (P) 99.585
Stop-Out Yield (percent) 11.45
Simple Rate (percent) 10.86
Weighted average yield of winning bids (percent) 11.44
Simple rate for weighted average winning bids (percent) 10.86
Weighted average price of winning bids (P) 99.585
Minimum winning bid yield (percent) 11.42
Maximum bid yield (percent) 11.45
Days to Maturity 14

Note: BOBC 250309 - BIDS ABOVE P99.585 RECEIVED FULL ALLOTMENT WHILE BIDS   AT P99.585 RECEIVED 87.23 PERCENT OF AMOUNT APPLIED FOR.