BW20030331000191  20030331T165649Z UTC


( BW)(ARTESIAN-FINANCE-PLC)(AT28) FRN Variable Rate Fix

    Business Editors
    UK REGULATORY NEWS

    LONDON--(BUSINESS WIRE)--March 31, 2003--

RE: ARTESIAN FINANCE PLC
    GBP 101,681,000 SERIES 1 AND 2 EMTN
    DUE: SEPTEMBER 2032
    ISIN: XS0150081643

PLEASE BE ADVISED THAT WE HAVE DETERMINED INTEREST PAYABLE VALUE 30SEPT2003
TO BE GBP 18.55     PER GBP 1,000 DENOMINATION.
TO BE GBP 185.51    PER GBP 10,000 DENOMINATION.
TO BE GBP 1,855.09  PER GBP 100,000 DENOMINATION.

FOR REFERENCE THE INDEX RATIO WAS CALCULATED ACCORDING TO THE
FOLLOWING FORMULA:

    (INDEX RATIO = CURRENT RETAIL PRICE INDEX / BASE INDEX )
                 = 178.4 / 174.30
                 = 1.0235 

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 207 508 3857/3855 OR FAX: 44 207 508 3881

   Short Name: Artesian Finance
   Category Code: RC
   Sequence Number: 00003489
   Time of Receipt (offset from UTC): 20030331T173535+0100

    --30--RA/uk*

    CONTACT: Artesian Finance PLC
 
    KEYWORD: UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: BANKING
    SOURCE: Artesian Finance

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