PROMISE-A-2000-1 plc - KfW

3. EXCHANGE RATE AND CURRENCY INFORMATION
As contemplated by the Treaty on the European Union (the "Maastricht Treaty"), to which each of
Germany and Ireland is a signatory, on 1 January 1999 the third stage of Economic and Monetary Union
(" EMU") started and the single unified currency, the euro, became the legal currency for eleven member
states of the European Union (" EU"), including Germany and Ireland, both of which fulfilled the
necessary convergence criteria for adoption of the euro set out pursuant to the Maastricht Treaty. During a
transitional period between 1 January 1999 and 31 December 2001, and for a maximum period of six
months thereafter, the former national currencies of the member states participating in EMU will continue
to be legal tender in their respective states of issue, but as non-decimal sub-units of the euro. The fixed
rate of exchange between the euro and the Irish punt is 0.787564 to €1 and between the euro and the
Deutsche Mark is 1.95583 to €1.
Exchange Controls
There are, except in limited embargo circumstances, no legal restrictions in Germany or Ireland on
international capital movements and foreign exchange transactions. However, for statistical purposes
only, every individual or corporation residing in Germany must report to Deutsche Bundesbank, subject
to certain exceptions, any payment received from or made to an individual or a corporation resident
outside of Germany if such payment exceeds DEM5,000 (approximately €2,556.46, or the equivalent in a
foreign currency).
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