FCE Bank PLC

As Agent Bank, please be advised of the following rate determined on:
10-Nov-2003

Issue               : FCE Bank PLC - Series 131
                      GB�7,500,000 (MTN) FRN Due 10th May 2004
ISIN Number         : XS0097465448
Issue Nomin     GBP : 7,500,000.00
Period              : 10-Nov-2003 to 10-Feb-2004  Payment Date 10-Feb-2004
Number of Days      : 92
Rate                : 4.10125
Denomination    GB  : 7,500,000.00

Amount Payable 
per Denomination    : 77,438.38

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 7438