54NV Dp World 30 U

        
 As Agent Bank, please be advised of the following rate determined            on: 25-Nov-2008
 Issue                            � Province Of Naples - Series 1
                                  EUR 33,714,000.00 (MTN) FRN Due 27-May-2014
 ISIN Number                      � XS0097828189
 Common Code / 144A ISIN          � 97828189
 Issue Nomin EUR                  � 33,714,000.00
 Period                           � 27-Nov-2008 to 27-May-2009              Payment Date 27-May-2009
 Number of Days                   � 181
 Rate                             � 4.185                       Pool Factor: 0.36673
 Denomination EUR                 � 366.73              �                                       �
                                                                                                    
 Amount Payable per Denomination  � 7.72                �                                       �
                                                                                                    
 Bank of New York
 Rate Fix Desk                                          Telephone           � 44 1202 689580
 Corporate Trust Services                               Facsimile           � 44 1202 689601
    
    

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