ALLIANCE & LEICESTER GROUP TREASURY PLC

RE: ALLIANCE & LEICESTER GROUP TREASURY PLC
    GBP 10,000,000.00
    MATURING: 21-Jan-2005
    ISSUE DATE: 21-Jan-2000
    ISIN:XS0106603276

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD 
21-Jan-2004 TO 21-Apr-2004 HAS BEEN FIXED AT 4.231250 PCT.

INTEREST PAYABLE VALUE 21-Apr-2004 WILL AMOUNT 
TO GBP 10.52 PER GBP 1,000.00 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.