PRESS RELEASE

TARGET Annual Report 2002

14 April 2003

The European Central Bank (ECB) is today publishing the third edition of the TARGET Annual Report. It gives an overview of TARGET operations in the year 2002.

TARGET is the leading large-value payment system in the euro area, and one of the most important worldwide.

The annual report provides and assesses the business and technical performance of the system in 2002. It also describes the major developments concerning TARGET.

The report is available from each of the EU national central banks or online at www.ecb.europa.eu/pub/. Copies can additionally be obtained by writing to:

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