FCE Bank PLC

As Agent Bank, please be advised of the following rate determined on:
10-Nov-2003

Issue               : FCE Bank - Series AU
                      GBP 150,000,000 FRN (MTN) due 8 November 2004
ISIN Number         : XS0138239289
Issue Nomin     GBP : 150,000,000.00
Period              : 10-Nov-2003 to 09-Feb-2004  Payment Date 09-Feb-2004
Number of Days      : 91
Rate                : 5.32625
Denomination    GB  : 1,000.00      10,000.00       100,000.00

Amount Payable 
per Denomination    : 13.28         132.79          1,327.91

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