RNS No 9708h
NISSHO IWAI INTERNATIONAL FINANCE CAYMAN LD


FROM 29-7-97

155) JPY 700,000,000 FIXED & FLOATING RATE CALLABLE NOTES DUE 29-7-2004
                     FULLY PAID
                     (Represented by Notes to Bearer of JPY 100,000,000 each)


ISSUE PRICE    100%

ISSUER         J P MORGAN

A copy of the above is available for inspection from the Company
Announcements office of the Stock Exchange, London.

END
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