RNS No 3801t
DEPFA-BANK EUROPEA PLC

FROM:     8/1/98

151)   ITL 20,000,000,000   Indexed Linked EMTN Due 30/9/98

FULLY PAID
(Represented by Notes to Bearer of  ITL 1,000,000 each)

Issue Price:        100%

Issuer:             Clifford Chance

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

END


PS FCOCBQDKDDDK
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