RNS No 7245r
LANDWIRTSCHAFTLICHE RENTENBANK


FROM:  01-07-1997

ITL200,000,000,000 EXCHANGEABLE RATE NOTES DUE 2004

FULLY PAID

(REPRESENTED BY NOTES TO BEARER OF  ITL5,000,000 & ITL50,000,000  EACH)

ISSUE PRICE         -         101.55%

ISSUER              -         BANKERS TRUST COMPANY

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

END