MTS Belgium, a division of MTS Associated Markets, has been established
for the purpose of trading Belgian Sovereign securities.
MTS Associated Markets SA/NV, operates under the supervision of
the Banking and Finance Commission and of the Securities Regulation
Fund.
A specific Market Committee governs MTS Belgium of which the
members are the Primary Dealers of the Belgian State,
the Belgian State Treasury and MTS SpA.
Shares in MTS Associated
markets SA/NV are held by the list of banks
mentioned under the item ' Shareholders Institutions', by MTS S.p.A.
and the Kingdom of Belgium.
A Board of Directors, elected by the shareholders, governs Associated
Markets SA/NV.
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