RNS No 5531h
NISSHO IWAI INTERNATIONAL FINANCE CAYMAN LTD

FROM:    12TH AUGUST 1997

156) JPY 500,000,000 FIXED AND FLOATING RATE CALLABLE NOTES DUE 13.9.2004

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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