RNS No 7586v
HAVEN FUNDING (32) PLC
23rd October 1998


"Haven Funding (32) Plc has issued a further #7m of 7% Bonds due 2032. The
proceeds of the New Bonds are to be on lent by Haven Funding (32) Plc to
Droitwich Spa and Rural Housing Association limited. The Loan will be secured by
Rental Cashflow from a Portfolio of Social Housing as well as cash and
securities. The increase takes the total issue size to #100.5m".

For further information please call Philip Jenkins (0171 653 4878) or John
Shinton (0171 653 4877) at Royal Bank of Canada Europe Ltd.

END


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