Global High Yield Bond Trust Ld

As Agent Bank, please be advised of the following rate determined on:16-Oct-2003

Issue               : The Global High Yield Bond Trust Limited - Class A
                      EUR225,000,000 Floating Rate Notes Due April 2013
ISIN Number         : XS0110377479
Issue Nomin     EUR : 225,000,000.00
Period              : 20-Oct-2003 to 19-Apr-2004          Payment Date 19-Apr-2004 
Number of Days      : 182
Rate                : 2.728            Pool factor: 0.84212
Denomination    EU  : 8,421.20

Amount Payable 
per Denomination    : 116.14

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