RNS Number:2459J
Beta Finance Corporation
26 March 2003


The International Stock Exchange
of the United Kingdom
and Northern Ireland Limited
Broad Street
London EC2N 1HP

Attention:  Company Announcements Office

                                                               26th March 2003


Dear Sirs,


Beta Finance Corporation (the "Issuer")
US $10,000,000,000 Euro-Medium Term Note Programme


In our capacity as Investment Manager and Group Funding Manager to the Issuer we
hereby notify you for the purposes of Rule 15.14 of the Listing Rules of the 
exercise by the Issuer of a call option over its own listed debt securities 
issued under the Programme:

Listed Securities:                      USD 25,000,000 Notes
                                        due 9th October 2003,
                                        Series No.787
                                        ISIN XS0145556683
Exercise Date:                          26th March 2003
Value Date:                             9th April 2003
Nominal Amount                          USD 25,000,000
Remaining Nominal Amount                Nil



The Nominal Amount of all Notes repurchased will be cancelled on receipt.



Yours faithfully,

Richard A. Burrows
Vice President
CAI Credit Structures

Tel: 0207 500 1795
Fax: 0207 836 0078


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