ALLIANCE & LEICESTER GROUP TREASURY PLC

RE: ALLIANCE & LEICESTER GROUP TREASURY PLC
    GBP 11,700,000.00
    MATURING: 12-Jly-2004
    ISSUE DATE: 12-Jly-2001
    ISIN: XS0132619031

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD 13-Oct-2003 to
12-Jan-2004 HAS BEEN FIXED AT 3.777500 PCT.

INTEREST PAYABLE VALUE 12-Jan-2004 WILL AMOUNT TO GBP 941.48 PER GBP
100,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON TEL:
44 020 7508 3858/3855 OR FAX 44 020 7508 3881.