2-year Fixed Interest National Savings Certificates – New Issue

32nd Issue 2-year Fixed Interest Savings Certificates went on sale on 03 April 2006. A Certificate will grow in value at a guaranteed rate each year as follows:

Year 1	2.95%
Year 2	3.16%

If a Certificate is held for two years, these rates will give a tax free and guaranteed return equal to 3.05% pa compound.

5-year Fixed Interest National Savings Certificates – New Issue

82nd Issue 5-year Fixed Interest Savings Certificates went on sale on 03 April 2006. A Certificate will grow in value at a guaranteed rate each year as follows:

Year 1	2.65%
Year 2	2.75%
Year 3	2.95%
Year 4	3.25%
Year 5	3.66%

If a Certificate is held for five years, these rates will give a tax free and guaranteed return equal to 3.05% pa compound.

3-year Index linked National Savings Certificates – New Issue

12th Issue 3-year Index-linked Savings Certificates went on sale on 03 April 2006. The value of a Certificate will move in line with the rate of inflation as measured by the Retail Prices Index (subject to the detailed rules set out in the terms and conditions), plus extra interest as follows:

Purchase price	+ Index linking	+0.65% of	= 1st Anniversary
for year 1	Purchase price	Value
1st Anniversary	+ Index linking	+0.85% of 1st	= 2nd Anniversary
Value	for year 2	Anniversary Value	Value
2nd Anniversary	+ Index linking	+1.21% of 1st	= Maturity
Value	for year 3	Anniversary Value	Value

If a Certificate is held for three years, these rates will give a tax free and guaranteed return equal to 0.90% pa compound in addition to index linking.