RNS No 7349h
CHEYNE CBO I LIMITED

DOCUMENT RE:
                         CHEYNE CBO I, LIMITED
          U.S.$1,500,000 SENIOR SECURED FIXED RATE NOTES DUE 2005
      AND US $21,000,000 SENIOR SECURED FLOATING RATE NOTES DUE 2005

           SECURED BY A PORTFOLIO OF CONVERTIBLE DEBT SECURITIES
Issue Price - New Senior Fixed Rate Notes: 80.165 per cent together with accrued
                              interest
Issue Price - New Senior Floating Rate Notes: 93.823 per cent together with
                          accrued interest

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

END

EURALLFRATIIFAA


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