BW20030523000007  20030523T163728Z UTC


( BW)(NAPLES(PROVINCE OF))(54NV) FRN Variable Rate Fix

    Business Editors
    UK REGULATORY NEWS

    LONDON--(BUSINESS WIRE)--May 23, 2003--

As Agent Bank, please be advised of the following rate determined on: 23-May-2003

Issue               : Province Of Naples - Series 1
                      EUR33,714,000 (MTN) FRN due 27/5/2014
ISIN Number         : XS0097828189
Issue Nomin     EUR : 33,714,000.00
Period              : 27-May-2003 to 27-Nov-2003    Payment Date 27-Nov-2003
Number of Days      : 184
Rate                : 2.44                Pool Factor:  0.73336
Denomination    EU  : 733.36

Amount Payable 
per Denomination    : 9.15

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

   Short Name: Naples (Province of)
   Category Code: RC
   Sequence Number: 00005114
   Time of Receipt (offset from UTC): 20030523T153529+0100

    --30--ra/uk*

    CONTACT: Naples (Province of)
 
    KEYWORD: UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: BANKING
    SOURCE: Naples (Province of)

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