RNS No 0526v
ULSTER BANK FINANCE PLC

FROM:   6TH NOVEMBER 1997

37)   JPY 1,000,000,000 CALLABLE FIXED & FLOATING RATE NOTES DUE 6.11.02
                        FULLY PAID
                        (REPRESENTED BY NOTES TO BEARER OF JPY 100,000,000 EACH)

ISSUE PRICE 100.250%
 
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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