OXFORD East MP and junior minister Andrew Smith is urging Oxfordshire businesses to learn all they can about the single European currency.

The Minister for Trade and Competitiveness in Europe, Lord Simon of Highbury, has written to Mr Smith telling him of factsheets that the Government has produced to help small and medium-size companies get ready to deal in the new market.

Mr Smith said: "It's important that local businesses are geared up for the opportunities and challenges of the Euro."

The Euro will become a reality in mainland Europe from January 1, 1999.

About 15,000 sets of factsheets, the first of a series of ten, have so far been distributed to organisations representing businesses throughout the UK. They can be obtained by ringing 08456 010199 or from the Treasury's website http://www.euro.gov.uk.

They were prepared by the Treasury's Euro Preparations Unit (EPU). The Unit was set up in December last year. One of its main tasks is to provide support for businesses in preparing for the introduction of the Euro.

Lord Simon quoted a recent survey by the Central Office of Information revealing that ten per cent of small and medium size companies' managers did not even know that there was going to be a single currency.

Converted for the new archive on 30 June 2000. Some images and formatting may have been lost in the conversion.