PRESS RELEASE

28 June 2004 - Euro central rates and compulsory intervention rates in ERM II

Further to the decisions taken on 27 June 2004 (see communiqués of the European Union of the same date) on the euro central rates in ERM II for the Estonian kroon, the Lithuanian litas and the Slovenian tolar, the compulsory intervention rates for these currencies have been established with effect from 28 June 2004 and are set out in the table below.

The compulsory intervention rates have been agreed by common accord between the European Central Bank (ECB) and Eesti Pank, Lietuvos bankas and Banka Slovenije, in line with Article 1.2 of the European Central Bank Agreement of 1 September 1998 between the European Central Bank and the national central banks of the Member States outside the euro area laying down the operating procedures for an exchange rate mechanism in stage three of Economic and Monetary Union (OJ C 345, 13.11.1998, p. 6), as last amended by the Agreement of 29 April 2004 (OJ C 135, 13.5.2004, p. 3).

The euro central rate and compulsory intervention rates for the Danish krone remain unchanged.