ALLIANCE & LEICESTER GROUP TREASURY PLC

RE: ALLIANCE AND LEICESTER GROUP TREASURY
    GBP  4,000,000.00
    MATURING: 23-Jun-2005
    ISSUE DATE: 23-Jun-2000
    ISIN: XS0113270283

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
23-Dec-2003 TO 23-Mar-2004  HAS BEEN FIXED AT 4.070780 PCT.

INTEREST PAYABLE VALUE 23-Mar-2004 WILL AMOUNT TO
GBP 101.49 PER GBP 10,000.00 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.