Westland/Utrecht Hypotheekbank N.V.

RE: WESTLAND / UTRECHT HYPOTHEEKBANK N.V.
    EUR 500,000,000.00
    MATURING: 05-Feb-2004
    ISSUE DATE: 05-Feb-2001
    ISIN: XS0123057613

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
05-Nov-2003 TO 05-Feb-2004 HAS BEEN FIXED AT 2.263000 PCT.

INTEREST PAYABLE VALUE 05-Feb-2004 WILL AMOUNT TO
EUR 5.78 PER EUR 1,000.00 DENOMINATION.
EUR 57.83 PER EUR 10,000.00 DENOMINATION.
EUR 578.32 PER EUR 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.