RNS No 7304E
DAIWA PB LIMITED



To:    Company Announcements Office

As Agent Bank, please be advised of the following rate determined on the
16-DEC-97.

Issue:                Daiwa PB Ltd (MTN) - Series 4
                      US$150,000,000 FRN Perpetual

ISIN NO:              XS0079879861
Issue Nominal:        $150,000,000
Period:               18-DEC-97           To    18-MAR-97
Number of Days:       90
Rate:                 6.95625       PCT
Denomination:         $1,000        $10,000       #100,000        $1,000,000
Amount Payable      
Per Denomination:     $17.39        $173.91       $1,739.06       $17,390.63


From:
John Patten
Global Trust Services, 380B
Telephone           44 (0) 1202 347935
Facsimile           44 (0) 1202 347939


END


RC KLMMZZVVLNMM


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