52HX Guin.ptnr 91/8%

RNS No 7915a
NORTHERN COUNTIES HOUSING ASSOCIATION LIMITED
11th June 1998


Northern Counties Housing Association Limited
Issue of #30,000,000 Third Tranche of
Guaranteed Secured New Stock 2025

The gross redemption yield on the New Stock was fixed at 11.00
am this morning at a margin of 0.80 per cent. over the semi-
annual yield of the Treasury 8% 2021 Stock to give a yield of
6.334%.  The Issue Price of the New Stock was #135.602 per
#100 of New Stock plus accrued interest from but excluding 31
January 1998 to and including 22 June 1998 of #3.550 per #100
of Stock.

END

MSCNFFKFFSEPEFN

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