Press statement on the upgraded polymer notes

Bank of Zambia

09.02.05

Following the recent pronouncement by the Bank of Zambia to replace the unfit polymer notes from circulation, the Bank wishes to inform members of the general public that the upgraded series of polymer notes have been printed and are presently being distributed country-wide. The distribution process is expected to continue through the month of March 2005 and has initially commenced with the K500 notes.

The Bank advises that the upgraded banknotes look and feel similar to the current “2003” series of polymer banknotes. A key distinguishing feature on the banknotes is the year of printing, which is shown on the Coat of Arms as “2004” compared to the current series of polymer notes that show the year of print as “2003”. Other visual features of the polymer notes substantially remain unchanged.

The Bank of Zambia wishes to further advise members of the general public that, in line with its policy of promoting clean banknotes in circulation, the Bank has continued to replace all unfit notes from circulation primarily through the banking system. In this regard, members of the general public are encouraged to deposit or exchange all unfit paper and polymer notes with their commercial banks in order to improve the general quality of notes in circulation. The Bank will continue to facilitate the collection of unfit polymer notes from circulation.

Once again, the Bank of Zambia wishes to thank members of the general public for their patience and continued support in the Bank’s currency restructuring programme.

For further details and clarification, please contact:

Head – Public Relations

Bank of Zambia

PO Box 30080

Lusaka

Zambia

Tel: 01-228888 or 01-228903-20

Fax: 01-221722 or 01-237070