HIGHLIGHTS

• Issuer: Antigua & Barbuda Development Bank
• Aggregate Nominal Amount: US$1 million
• Issue Price: US$1,000 per 1,000 denomination
• Term: (5) Five years
• Rate of Interest: 6.5 (%) per cent per annum payable quarterly in arrears
• Sinking Fund: The Issuer will irrevocably credit on a monthly basis 1/60 of the Aggregate Nominal amount of the Bond to the Trust Account as well as the interest accrued based on the Fixed Interest Rate
• Trustee: PriceWaterhouseCoopers
• Trust Account Holder: Royal Bank of Canada - Antigua
• Use of Proceeds: A number of projects are in the pipeline for funding to include but not limited to the following:
  • Infrastructure for low-income housing project
  • Working capital for inter-islands ferry transportation project
  • Loan program for small farmers participating in a pineapple export project to Norway
  • Working capital for farming business participating in the exporting of produce within the Caribbean
  • Provide reverse mortgage funding to pensioners

These Bonds have the full faith and credit of the Government of Antigua
and Barbuda.