FCE Bank PLC

As Agent Bank, please be advised of the following rate determined on: 25-Feb-2004

Issue               : FCE Bank PLC - Series 132
                      GBP25,000,000 (MTN) FRN due 25th May 2004
ISIN Number         : XS0097609035
IssueNomin     GBP : 25,000,000.00
Period              : 25-Feb-2004 to 25-May-2004       Payment Date 25-May-2004
Number of Days      : 90
Rate                : 4.3225
Denomination    GB  : 25,000,000.00

Amount Payable 
per Denomination    : 265,727.46

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 7438

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