56HR Nordic 24

RNS No 5821j
NIPPON CREDIT BANK LTD
25th February 1998


LETTER TO COMPANY ANNOUNCEMENTS OFFICE

Re: Notification of purchase and cancellation

I hereby serve notice to you that the total of existing balance of the
securities, the details of which is given as the below, will be repurchased from
the market by the Issuer on the date of 27 Feb. 1998 for the cancellation.

The cancellation of the securities is scheduled immediately after the
repurchase.

The details are as the following:

Issuer:   The Nippon Credit Bank Ltd (under the MTN programme)
Issue:    L+75/8.0% Note due 7 Jul 2005
          L+50/9.0% Note due 7 Jul 2005
Outstanding balance:    U.S.$20,000,000
                        U.S.$15,000,000
ISIN:     XS0058647552 (your code B614-092)
          XS0058647719 (          B614-081)
Purchase and cancellation amount:
                        U.S.$20,000,000
                        U.S.$15,000,000
Balance after Purchase and cancellation:
                        Nil                


FROM: Nippon Credit Bank Ltd


END

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