RNS No 7233j
MORGAN STANLEY DEAN WITTER DISCOVER


FROM:     1 JULY 1997

3) ITL 750,000,000  3.85%  EQUITY LINKED NOTES DUE 1/12/2003

FULLY PAID
(REPRESENTED BY NOTES TO BEARER OF ITL 5,000,000 EACH)

ISSUE PRICE         -         78.44%

ISSUER              -         CHASE MANHATTAN BANK

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

END