BMA-PGBI Closing Bell

Yields on the BMA-PGBI decreased by approximately 3 bps and its value increased by 0.12% to close at 98.323. Yields decreased across the length of the yield curve. In the short tenors, yields decreased by 1 to 2 basis points, while in the medium tenors, yields decreased by 2 to 4 basis points. Among the long tenors, yields decreased by 6 basis points only within the 9-10 year segment, and remained unchanged for the others. These combined decrease in yields led to the increase in value.

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Index Statistics               16-Sept-05    15-Sept-05       Change

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BMA-PGBI          (Index Value)  98.3230  98.2016   0.1214   (0.12%)

Principal Return  (Index Value)  83.6787  83.5652   0.1135   (0.14%)

Interest Return    %              17.50%   17.52   -0.0001  (-0.08%)

Average Coupon     %             10.4749  10.475   -0.0008  (-0.01%)

Average Maturity   %              5.9053   5.906   -0.0012  (-0.02%)

Average Yield      %              9.2707   9.297   -0.0268  (-0.29%)

Average Duration         Value    4.0928   4.092    0.0005   (0.01%)

Average Convexity        Value   27.7622  27.7279   0.0344   (0.12%)

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