FCE Bank PLC

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

Issue               : FCE Bank PLC - Series 150
                      GB�200,000,000 (MTN) FRN due 26/05/05
ISIN Number         : XS0111537477
Issue Nomin     GBP : 200,000,000.00
Period              : 26-Nov-2003 to 26-Feb-2004      Payment Date 26-Feb-2004
Number of Days      : 92
Rate                : 4.16625
Denomination    GB  : 1,000.00    10,000.00    100,000.00

Amount Payable 
per Denomination    : 10.48       104.84       1,048.38 

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