418TH FOREIGN EXCHANGE AUCTION ANNOUNCEMENT

The Bank of Sierra Leone wishes to make the following announcements:

• The Bank of Sierra Leone will sell a minimum of US$750,000 of which US$50,000 will be in the non-competitive window on Wednesday 14th May, 2008.
• The Foreign exchange auction exclusion rate is Le2,955.00. Any bid below the exclusion rate will be excluded from participating in the auction.
• The Foreign Exchange auction also provides a window for sellers of foreign exchange like Business Houses, Exporters, other International Organisations, NGOs and Embassies to sell their foreign exchange at the auction rate on the date of the auction. The minimum offer amount should not be less than US$10,000
• The following auction limits should be adhered to:
• Lower limit in the non-competitive window.................................................................US$10,000
• Upper limit in the non-competitive window.................................................................US$20,000
• Lower limit in the competitive window.......................................................................US$20,000
• Maximum amount per bidder per auction in the Competitive Window.........................US$100,000

The Bank of Sierra Leone also announces for the information of the general public that for bids to be eligible for participation in the Foreign Exchange Auction, non-bank participants should ensure that they forward originals of all import documents in support of bids through their commercial banks for onward transmission to the Bank of Sierra Leone for confirmation of compliance with Auction guidelines by Friday 3.00 p.m. each week.