FCE Bank PLC

As Agent Bank, please be advised of the following rate determined on: 02-Dec-2003

Issue               : FCE Bank PLC  - Series AQ
                      EURO 175,000,000 MTN/FRN due 4 March 2005
ISIN Number         : XS0134137974
Issue Nomin     EUR : 175,000,000.00
Period              : 04-Dec-2003 to 04-Mar-2004        Payment Date 04-Mar-2004
Number of Days      : 91
Rate                : 2.534
Denomination    EU  : 1,000.00

Amount Payable 
per Denomination    : 6.41

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