RNS No 5593r
ULSTER BANK FINANCE PLC


FROM 13.1.98

48) JPY 500,000,000 DUAL CURRENCY NOTES DUE 13.1.03

FULLY PAID

(REPRESENTED BY NOTES TO BEARER OF JPY 100,000,000 EACH)

IP 100.25%

ISSUER JP 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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