Important Notice

The information contained herein is not intended for distribution, whether direct or indirect, in the United States. Dissemination of the Prospectus and the offer, sale or purchase of Bonds in certain jurisdictions may be restricted by law. Bonds will not be registered, authorized or approved by any administrative or other authority of any jurisdiction other than the Czech National Bank. Bonds will not be, in particular, registered under the Securities Act of the United States of America from 1933 and may not be offered, sold or transferred to the United States or persons who are residents of the United States, otherwise than pursuant to exemptions from registration obligations under this Act or in the trade that is not subject to this Act. Persons into whose possession this Prospectus comes are responsible for compliance with restrictions that relate to the offer, purchase or sale of Bonds or possession and distribution of any materials relating to the Bonds in individual countries.