FCE Bank PLC

As Agent Bank, please be advised of the following rate determined on: 06-Nov-2003

Issue               : FCE Bank Plc - Series AF
                      EUR 10,000,000 (MTN) FRN due 9/02/06
ISIN Number         : XS0124488130
Issue Nomin     EUR : 10,000,000.00
Period              : 10-Nov-2003 to 09-Feb-2004       Payment Date 09-Feb-2004
Number of Days      : 91
Rate                : 2.545
Denomination    EU  : 100,000.00

Amount Payable 
per Denomination    : 643.32

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