Notice to the N oteholders (as of 06 February 2012 )

ROMANIA

ACTING THROUGH THE MINISTRY OF PUBLIC FINANCE

EUR 7 000 000 000

Global Medium Term Note Programme

On 6 February 2012 Presid ent Traian Basescu took notice of Prime -Minister Emil Boc's r esignation and appointed Mr Catalin Marian Predoiu as interim Prime -Minister of the Government of Romania to carry out the functions of the prime -minister, until the formation of the new Governme nt. Also, consultations took place between president Basescu and the leaders of the parties and political formations represented in the Parliament of Romania, in accordance with the Romanian Constitution. Following such consultations, Mr Mihai -Razvan Ungureanu has been designated as the Prime Ministerial candidate a nd has been given the task of forming a new government. According to the Romanian Constitution, within 10 days of such appointment, Mr Mihai -Razvan Ungureanu must ask and obtain the Parliament's vote of confidence, with respect to the list of members of th e proposed new government and its governing agenda. Should such vote fail to be obtained, the President of Romania will propose another Prime Ministerial candidate, who will then propose a new list of members of the cabinet and governing agenda. If, within 60 days from 6 February 2012, the date when Mr Mihai -Razvan Ungureanu was originally appointed to form a new government, the Parliament has failed to grant a vote of confidence to a new government and on the condition that at least two proposals for a new government have been in such period rejected by Parliament, the President is entitled to dissolve the Parliament, after consultation with the presidents of the two chambers of Parliament. In this event, early elections would be convened within a three mon ths period from the date of dissolution of Parliament. Until a new government is approved by Parliament, a caretaker government will continue to operate.

THE AGENT SOCIETE GENERALE BANK & TRUST 11 AVENUE EMILE REUTER L-2420 LUXEMBOURG