RNS No 3805x
ULSTER BANK FINANCE PLC

FROM:     8 JANUARY 1998

JPY 500,000,000  

47) 0.25% MULTI CALLABLE NOTES DUE 8-1-2008

FULLY PAID
(Represented by Notes to Bearer of JPY 100,000,000 each)

(Registered)

IP:        100.25%

Issuer:    MORGAN GUARANTY TRUST CO OF NY

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

END


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