FCE Bank PLC

As Agent Bank, please be advised of the following rate determined on: 23-Dec-2003

Issue               : FCE Bank PLC - Series 135
                      EUR 185,000,000(MTN) FRN Due 28 June 2004
ISIN Number         : XS0098955072
Issue Nomin     EUR : 185,000,000.00
Period              : 29-Dec-2003 to 29-Mar-2004       Payment Date 29-Mar-2004
Number of Days      : 91
Rate                : 2.317
Denomination    EU  : 185,000,000.00

Amount Payable 
per Denomination    : 1,083,519.31

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