Auction of Six-Month Government Securities of the Republic of Serbia
ON NOVEMBER 17th, 2011 ENTIRE ISSUANCE VOLUME SOLD

Belgrade, November 17, 2011

The amount of 400.000 T-Bills was sold at the auction of six-month government securities of the Republic of Serbia, held on November 17th, 2011, whose nominal value was RSD 4.000.000.000,00, which represents 100% of the total issuance volume.
The securities were sold at the interest rate of 10,90% p.a. and will mature on May 12, 2012.