RNS No 480j
DEPFA-BANK EUROPE PLC

FROM: 24/12/97

ITL 15,000,000,000 Step down instruments due 7th October 2004

FULLY PAID
(Represented by Notes to Bearer of ITL 5,000,000 each)

(Registered)

Issue Price:  100%

Issuer:  Merrill Lynch International

A copy of the above is available for inspection from the Company
Announcements office of the Stock Exchange, London.

END

PS OCNCDPDDDABB
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