RNS No 2557t
ULSTER BANK FINANCE PLC


FROM:  1ST SEPTEMBER 1997

32) JPY 500,000,000 FIXED TO REVERSE FLOATING RATE CALLABLE NOTES DUE 30.8.02
                    FULLY PAID
                    (REPRESENTED BY NOTES TO BEARER OF JPY 100,000,000 EACH)

                    ISSUE PRICE 100.30%

                    ISSUER J.P. MORGAN

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

END
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