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Subject: Cyprus - Euro changeover Posted on: Thu, 20 Dec 2007 06:57:40 -0000

The Cypriot pound will be replaced by the Euro as official currency of the
Republic of Cyprus on 1 January 2008 at the irrevocable fixed exchange rate
of 0.585274 CYP per 1 Euro. However, pound banknotes and coins will continue
to have legal tender status and will be accepted for cash payments until 31
January 2008. Cypriot pounds will be convertible free of charge at Cypriot
credit institutions until 30 June 2008. CYP coins will be convertible at the
Central Bank of Cyprus until 31 December 2009 and CYP banknotes until 31
December 2017.

Gerry