FCE Bank PLC
As Agent Bank, please be advised of the following rate determined on: 25-Sep-2003

Issue               : FCE Bank Plc - Series AM
                      EUR 850,000,000 (MTN)FRN due 28 Jun 2006
ISIN Number         : XS0131626896
Issue Nomin     EUR : 850,000,000.00
Period              : 29-Sep-2003 to 29-Dec-2003          Payment Date 29-Dec-2003
Number of Days      : 91
Rate                : 2.533
Denomination    EU  : 1,000.00      10,000.00       100,000.00

Amount Payable 
per Denomination    : 6.4           64.03           640.29

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