The New Leu

Romfilatelia, the company specialized in issuing and trading Romanian postage stamps, is launching, on the occasion of the redenomination of the domestic currency, the postage stamp issue called “The New Leu - 2005”.

The National Bank of Romania, founded in 1880, is the central bank of Romania. The National Bank is a public independent institution, with the headquarters in Bucharest. It is the unique institution authorized to issue currency as notes and coins, as legal means of payment within the country. The domestic currency is the Leu and the fractional coin is the Ban.

Romania is one of the European countries which is going to pass to the redenomination of its domestic currency, starting from July 1st 2005. Under the motto “Nothing to lose, nothing to gain. Everything is to be simplified”, the Leu shall be nominated so as to turn 10,000 old Lei into 1 new Leu. The old leu shall be circulating until December 31st 2006. Until that date, the old currency shall be replaced gradually with the new notes and coins.

The notes of 1 Leu and 5 Lei are flat printed. The 10 Lei, 50 Lei, 100 Lei and 500 Lei notes are embossed on both sides. All the notes from the issue dating from July 1st 2005 are printed on plastic material (polymer). The 1 Ban, 5 Bani and 10 Bani coins are made of steel plated with brass, copper and nickel respectively. The 50 Bani coin is made of brass.

The issue is of 20 definitive stamps representing the transformation of old notes into the new ones, as follows:

- 2 stamps, each with the face value of 50 Bani represent the graphic elements of the old 10,000 Lei notes, in parallel to the ones of the new notes corresponding to 1 Leu (the front and the back side of the notes).

- 2 stamps, each bearing the face value of 80 Bani, representing the graphic elements of the old 50,000 Lei notes in parallel to the ones of the new notes of 5 Lei (the front and the back side of the notes).

- 2 stamps, each with the face value of 1 Leu, representing the graphic elements of the old 100,000 Lei notes, in parallel to the ones of the new notes corresponding to 10 Lei (the front and the back side of the notes).

- 2 stamps, each with the face value of 1.20 Lei, representing he graphic elements of the old 500,000 Lei notes, in parallel to the ones of 50 Lei (the front and the back side of the notes).

- 2 stamps, each with the face value of 1.60 Lei, representing the graphic elements of the old 1,000,000 Lei in parallel to the ones of the new notes corresponding to 100 Lei (the front and the back side of the notes).

- 2 stamps, each with the face value of 2.20 Lei, representing the graphic elements from the front and back side of the new 500 Lei notes (issued for the first time).

- 2 stamps, each with the face value of 30 Bani, representing the characteristics of the new 1 Ban coin, corresponding to the old 100 Lei coin.

- 2 stamps, each with the face value of 70 Bani, representing the characteristics of the new 5 Bani coin, corresponding to the old 500 Lei coin.

- 2 stamps, each with the face value of 2.10 Lei, representing the characteristics of the new 10 Bani coin, corresponding to the old 1,000 Lei coin.

- 2 stamps, each with the face value of 3.10 Lei, representing the characteristics of the new 50 Bani coin, corresponding to the old 5,000 Lei coin.

The face value of each postage stamp is presented in the new currency. All stamps present on the background the National Bank of Romania’s building and logo, with the inscription “125” representing the number of years fulfilled from the founding of this institution in, 1880.