RNS No 5650c
SANWA AUSTRALIA FINANCE LIMITED


To:    Company Announcements Office

As Agent Bank, please be advised of the following rate determined on the
12-Nov-98.

Issue:           Sanawa Australia Finance (MTN) - Series 11              
                 US$5,000,000 FRN/FIXED Due 15/5/2007   
ISIN NO:         XS0076458727          Payment Date 16/02/1999            
Issue Nominal:   USD $5,000,000.00   
Period:          16-Nov-98        To      16-Feb-99
Number of Days:  92 
Rate:            6.00234                PCT
Denomination:    100,000.00
Amount Payable      
Per Denomination: 1,533.93


From:
Jane Slate 
Global Trust Services, 380B
Telephone           44 (0) 1202 341286
Facsimile           44 (0) 1202 347939


END


RC AUASKWBKAAAA


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