PRESS RELEASE

Production of the Euro 100 banknotes

11 July 2000

The President of the European Central Bank confirms that one denomination of the euro banknotes (EURO 100 banknote), produced by one printing works does not fully comply with the Eurosystem's quality standards for their production. This problem is being addressed. These banknotes will not be brought into circulation.

One of the security features (a feature to prevent the banknote from being successfully photocopied) is present on these banknotes and, therefore, they cannot be successfully photocopied. However, this feature shows a slight deviation in visual appearance when compared with the same denomination as produced in the other printing works. This is not acceptable. Only banknotes that do fully comply with the quality standards of the Eurosystem will be brought into circulation.

Producing euro banknotes to the same quality standard at 11 printing works across Europe with a pre-determined deadline is a demanding and challenging task. The euro banknotes have tighter tolerance standards than usual in banknote production.

The Eurosystem, i.e. the European Central Bank, together with all national central banks of the euro area, ensures that all euro banknotes will be identical, will be ready on time, and that only banknotes complying with all the high quality standards will be issued.

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