Global High Yield Bond Trust Ld

As Agent Bank, please be advised of the following rate determined on: 16-Oct-2003

Issue               : The Global High Yield Bond Trust Limited - Class C
                      EUR19,900,000 Floating Rate Notes Due April 2013
ISIN Number         : XS0110377719
Issue Nomin     EUR : 19,900,000.00
Period              : 20-Oct-2003 to 19-Apr-2004          Payment Date 19-Apr-2004 
Number of Days      : 182
Rate                : 7.178            
Denomination    EU  : 10,000.00

Amount Payable 
per Denomination    : 362.89

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