BMA-PGBI Closing Bell

Yields on the BMA-PGBI remained stable and its value increased by 0.02% to close at 99.0763. The yield to maturities for both the short and medium term declined by 1 basis point while the long tenors remained stable. This decline in yields, coupled with interest rate return, led to the increase in value of the BMA-PGBI.

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Index Statistics                20-Oct-05     19-Oct-05       Change

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BMA-PGBI          (Index Value)  99.0763  99.0521   0.0242   (0.02%)

Principal Return  (Index Value)  83.7582  83.7536  -0.0046   (0.01%)

Interest Return    %               18.29%   18.27%  0.0002   (0.12%)

Average Coupon     %             10.4554  10.4556  -0.0002   (0.00%)

Average Maturity   %              5.8616   5.8642  -0.0026  (-0.04%)

Average Yield      %              9.2608   9.2612  -0.0004   (0.00%)

Average Duration         Value    4.0778   4.0803  -0.0024  (-0.06%)

Average Convexity        Value   27.3480  27.3458   0.0023   (0.01%)

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