RNS No 5210p
ULSTER BANK FINANCE PLC

From 11.12.97

43) JPY 500,000,000 Fixed to Reverse Floating Rate Notes due 11.12.2007
                    fully paid
                    (Represented by Notes to Bearer of JPY 100,000,000 each)

Issue Price 100%

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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