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PRESS RELEASE

Progress in the technical preparation of the euro banknotes

12 September 1998

Given that the euro banknotes will be put into circulation on 1 January 2002, there are less than 800 working days to go before their launch. The technical preparations for the euro banknotes are proceeding according to schedule. The origination (i.e. the process of converting the designs into banknotes) has now been successfully completed. A zero-production run will be conducted in the autumn before mass production starts in early 1999.

The Governing Council of the European Central Bank today decided that there will be no national feature on the euro banknotes. It also confirmed (in line with previous recommendations made by the European Monetary Institute) that the following seven banknote denominations will be issued: EUR 5, EUR 10, EUR 20, EUR 50, EUR 100, EUR 200 and EUR 500.

Folders featuring the draft euro banknote designs can be obtained from the ECB at the following address:

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Banco Central Europeo

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