MTS Denmark
MTS Denmark, a division of MTS Associated Markets, has been established for the purpose of trading Danish Sovereign securities.

MTS Associated Markets SA/NV, operates under the supervision of the Banking and Finance Commission and of the Securities Regulation Fund.

Shares in MTS Associated markets SA/NV are currently held by the list of banks mentioned under the item ' Shareholders Institutions', by MTS S.p.A. and the Kingdom of Belgium.

A Committee, composed of Government Debt Management at Danmarks Nationalbank, the Danish Primary Dealers and a representative of MTS S.p.A., governs MTS Denmark.

Trading on MTS Denmark is conducted via the Telematico system.

	Contact MTS Associated Markets SA
	Mailing Address:	Rue des Colonies 11, B-1000 Bruxelles, Belgium
	Telephone:	+32 2 517 63 07
	Facsimile:	+32 2 517 65 00
	e-mail:	mtsam@mtsam.com
	Aline Morley
	e-mail:	morley_aline@mtsam.com

MTS Belgium
MTS Associated Markets SA/NV, operates under the supervision of the Banking and Finance Commission and of the Securities Regulation Fund.

Shares in MTS Associated markets SA/NV are held by the list of banks mentioned under the item ' Shareholders Institutions', by MTS S.p.A. and the Kingdom of Belgium.

A Board of Directors, elected by the shareholders, governs Associated Markets SA/NV.

Trading on MTS Belgium is conducted via the Telematico system.

MTS Finland
MTS Associated Markets SA/NV, operates under the supervision of the Banking and Finance Commission and of the Securities Regulation Fund of the Kingdom of Belgium.

A specific Market Committee governs MTS Finland. Members of the Market Committee are the Primary Dealers of the Finnish State, the Finnish State Treasury and MTS SpA.

Trading on MTS Finland is conducted via the Telematico system.