RNS No 4772x
DAIWA PB LTD
16th March 1998


To:    Company Announcements Office

As Agent Bank, please be advised of the following rate determined on the
16-Mar-98.

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

ISIN NO:            XS0079879861
Issue Nominal:      $150,000,000
Period:             18-Mar-98           To    18 Jun-98
Number of Days:     92
Rate:               6.73359             PCT
Denomination:       $1,000              $10,000    $100,000   $1,000,000
Amount Payable      
Per Denomination:   $17.21              $172.08    $1,720.81  $17,208.06


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


END

RC MLGMFFVDLRMM


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