On August 3, 2011, securities in the amount of GEL 5 000 000 with a maturity of 2 years were sold at the Ministry of Finance Treasury Notes Auction. Five commercial banks participated in the auction. The total demand amounted to GEL 10 500 000. Minimum yield was 10.770%, maximum yield was 10.900% and the weighted average yield was fixed at 10.835%. The coupon rate was 10.8%. Coupons will be paid semiannually.