BMA-PGBI Closing Bell

Yields on the BMA-PGBI declined by 2.6 pps and its value increased by 0.04% to close at 99.2500. The yield to maturities for the short tenors remained stable, while the medium tenors decreased by approximately 2 basis points. The long tenors once again saw a decline in yields ranging from 4-12 basis points. 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                24-Oct-05     23-Oct-05       Change

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BMA-PGBI          (Index Value)  99.2500  99.2089   0.0412   (0.04%)

Principal Return  (Index Value)  83.8624  83.8390   0.0235   (0.03%)

Interest Return    %               18.35%   18.33%  0.0002   (0.09%)

Average Coupon     %             10.4541  10.4548  -0.0007  (-0.01%)

Average Maturity   %              5.8587   5.8597  -0.0010  (-0.02%)

Average Yield      %              9.2444   9.2470  -0.0026   (-0.3%)

Average Duration         Value    4.0863   4.0753   0.0110   (0.27%)

Average Convexity        Value   27.2972  27.4448  -0.1476  (-0.54%)

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