FIXED INTEREST NATIONAL SAVINGS CERTIFICATES—NEW ISSUE

51st Issue Savings Certificates go on sale from 20th May 1999. They will grow in value at a guaranteed rate each year as follows:

Year 1	3.3 per cent
Year 2	3.4 per cent
Year 3	3.5 per cent
Year 4	3.75 per cent
Year 5	4.31 per cent

If a Certificate is held for five years, these rates will give a tax-free and guaranteed return equal to 3.65 per cent per annum compound.

NATIONAL SAVINGS CHILDREN’S BONUS BONDS—NEW ISSUE

Issue O Children’s Bonus Bonds will go on sale from 20th May 1999. For the first five years each £25 unit will earn interest at 3.5 per cent per annum compound. On the fifth anniversary of purchase it also earns a bonus of £1.98 (7.92 per cent of purchase price). At these rates a Bond will earn a tax-free return equal to 4.85 per cent per annum compound over the first five years.

NATIONAL SAVINGS CAPITAL BONDS—NEW SERIES

Series Q Capital Bonds will go on sale from 20th May 1999. Bonds held for five years will grow in value at a guaranteed rate each year as follows:

Year 1	4.2 per cent
Year 2	4.4 per cent
Year 3	4.7 per cent
Year 4	5.2 per cent
Year 5	5.76 per cent

These rates will give a guaranteed return equal to 4.85 per cent per annum compound. The interest is credited gross and is taxable.

NATIONAL SAVINGS PENSIONERS GUARANTEED INCOME BONDS FIVE YEAR FIXED RATE TERM—NEW SERIES

Series 10 five year Pensioners Guaranteed Income Bonds will go on sale from 20th May 1999. The interest rate, fixed and guaranteed for the first five years a Bond is held, is 4.85 per cent per annum. The interest is paid gross and is taxable.

NATIONAL SAVINGS PENSIONERS BONDS TWO YEAR FIXED RATE TERM—NEW SERIES

Series 1 two year Pensioners Guaranteed Income Bonds will go on sale from 2nd June 1999. The interest rate, fixed and guaranteed for the first two years a Bond is held, is 5.0 per cent per annum. The interest is paid gross and is taxable. Issued by National Savings on behalf of the Treasury