30GQ Barclays 27

RNS No 7422x
DAIWA PB LIMITED
22nd July 1997


PLEASE BE ADVISED THAT THE MARGIN FOR THE DAIWA PB VARIABLE RATE
NOTE, UNDATED HAS BEEN SET AT THE ALTERNATIVE MARGIN OF 1.00 PCT OVER
3 MONTH USD LIBOR. THE ISIN NUMBER FOR THIS ISSUE IS XS0039847610.
THIS IS FOR THE PERIOD

COMMENCING 31 JULY 97
UNTIL      31 OCT 97

NO NOTE HOLDER HAS THE RIGHT TO REQUIRE MERRILL LYNCH, AS REMARKETING
UNDERWRITER, TO PURCHASE ANY NOTES.

JASON HARWOOD
MERRILL LYNCH INTERNATIONAL
FRN/ICT TRADING, 5TH FLOOR
TEL 0171 867 3989 FAX 0171 867 4669

END

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