‘M5’  Money Markets (1 Month LIBOR)

Exhibit-01 (above)

Chart-01 displays 1-Month LIBOR rates for the five countries and the equal-weight M5 basket (composite), rebased to 18 months ago.

Exhibit-02 (below)

Chart-02 calculates annualised returns from perpetually renewing investments at prevailing 1-Month LIBOR over three years.

Exhibit-03 (above)

Chart-03 plots 1-Month LIBOR across the latest ten years.

Exhibit-04 (below)

Table-01 shows actual values of the four LIBOR return indices at fixed points in time: ten, five and three years ago, 12 months ago, latest year-end and last month. In the lower portion of the table, corresponding rates of return are listed. The best (green) and worst (red) performing market of each period is highlighted.

Exhibit-05 (above)

Chart-04 shows annualised rates of return for the equal-weight basket, and each national money market, from 31.12.1999 to date.