52HX Guin.ptnr 91/8%

RNS No 1985v
NORTHERN COUNTIES HOUSING ASSOCIATION LIMITED


DOCUMENT RE

                     ISSUE OF A FURTHER #30,000,000
                             9 1/8 PER CENT
              GUARANTEED SECURED STOCK 2025 (THE "NEW STOCK")
     ISSUED AT #135.986 NOMINAL PLUS ACCRUED INTEREST OF #3.55 PER #100 NOMINAL
      (FROM BUT EXCLUDING 31ST JANUARY, 1998 TO AND INCLUDING 22ND JUNE, 1998)

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

END


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