ALLIANCE & LEICESTER GROUP TREASURY PLC

RE: ALLIANCE & LEICESTER GROUP TREASURY PLC
    GBP 300,000,000.00
    MATURING: 25-May-2006
    ISSUE DATE: 25-May-2001
    ISIN: XS0129893425

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
25-Nov-2003 TO 25-Feb-2004 HAS BEEN FIXED AT 4.108750 PCT.

INTEREST PAYABLE VALUE 25-Feb-2004 WILL AMOUNT TO GBP 1,033.94 PER 
GBP 100,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON TEL: 
44 20 7508 3858/3855 OR FAX: 44 20 7508 3881.