FCE Bank PLC

As Agent Bank, please be advised of the following rate determined on: 18-Dec-2003

Issue               : FCE Bank Plc - Series 125
                      EUR 100,000,000 (MTN) FRN due 22 Mar 2004
ISIN Number         : XS0095569314
Issue Nomin     EUR : 100,000,000.00
Period              : 22-Dec-2003 to 22-Mar-2004          Payment Date 22-Mar-2004
Number of Days      : 91
Rate                : 2.291
Denomination    EU  : 100,000,000.00    

Amount Payable 
per Denomination    : 579,113.89

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