CBC Cains Beer

RNS No 7368r
COMPAGNIE BANCAIRE S.A.
1st July 1997


          Sale of UCB Invoice Discounting Ltd and UCB Factoring Ltd

The Board of Compagnie Bancaire SA ("Compagnie Bancaire") announces that it 
has agreed  with the Bank of New York Financial Corporation ("BNY") on the 
terms of the sale to BNY of its confidential invoice discounting and 
factoring companies, UCB Invoice Discounting Ltd and UCB Factoring Ltd 
("the Companies").

Compagnie Bancaire has agreed to sell its entire interest in the Companies 
to BNY, which fully recognised their potential for growth.  The acquisition 
of the Companies will provide BNY with a successful receivables finance 
group in the UK with an established brand name and a professional and 
experienced management team.

The Companies form one of the largest UK independent receivable finance 
groups (not owned by a UK clearing bank) with combined advances outstanding 
of #171 million and net assets of #8.8 million at 30th November 1996.  

These sales represent a further step in the restructuring of UCB's UK 
subsidiary, UCB Group plc, following the sale of UCB Home Loans Corporation 
Ltd to Nationwide Building Society in 1995.  In addition, further to a 
preliminary internal review of its strategic positions in the UK commercial 
mortgage market, Compagnie Bancaire is exploring various alternatives - 
including sales of part of these assets and/or operations - which would 
enhance value for its shareholders.  A further announcement is expected 
before the end of 1997.

In this context, the overall restructuring of UCB Group plc is not expected 
to have a significant net impact on Compagnie Bancaire's 1997 results.

Following this reorganisation of UCB Group plc, Compagnie Bancaire will 
continue to develop UFB Humberclyde, its UK subsidiary specialising in 
business equipment finance with a short term finance division which does 
not compete with the Companies.

Commenting on today's announcement, Bernard M|ller, Chief Executive Officer 
of Compagnie Bancaire, said:

"I am pleased to announce the successful sale of UCB Invoice Discounting 
Ltd and UCB Factoring Ltd to Bank of New York Financial Corporation, one 
of the two largest factors in the United States.  This transaction reflects 
the excellent prospects for these businesses.  We believe that Bank of New 
York Financial Corporation is better placed to grow and diversify these 
businesses which will be beneficial for staff and customers alike."

Compagnie Bancaire was advised on this transaction by Baring Brothers 
International Ltd.



Press enquiries:

Compagnie Bancaire                 Christine Baudelaire    00 331 4067 3871

UCB Group plc                      Jean-Pierre Maci           0181 240 5555

Baring Brothers
    International Limited          Matthew Greenburgh         0171 767 1000



END

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