RNS Number:8256K
Bristol Water Holdings PLC
07 May 2003



FINANCING FACILITIES COMPLETED



Bristol Water Holdings plc is pleased to announce that its subsidiary, Bristol
Water plc, has now completed its financing facilities explained in its
announcement dated 14th April 2003.



In total,  #45m has been raised of which #20m has been used to repay existing
bank debt.  #15m was raised using index linked bonds under the existing Artesian
Finance plc facilities and #30m using fixed interest bonds issued through
Artesian Finance II plc, both monoline wrapped bond programmes arranged by the
Royal Bank of Scotland.  The facilities, which provide for additional borrowing
capacity, extend to 2032 and 2033, with effective interest costs (excluding
fees) of 3.5% (index linked) and 6.0%, respectively.



Ofwat have indicated a desire to discuss possible changes to Bristol Water plc's
licence.  The Board will discuss these with Ofwat in due course but considers
that any change would only be appropriate if the company were planning to move
to a highly geared structure which is not its current intention.



The Board is pleased to have completed this transaction improving the maturity
profile of its debt portfolio, providing increased flexibility and enhancing
interest rate management.



The Company reports its full year results on 29 May.





Enquiries - 0117 953 6407



Alan Parsons, Chief Executive
Andy Nield, Group Finance Director




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