London Forfaiting Co - Re Syndicated Loan

RNS No 4666n
LONDON FORFAITING COMPANY PLC
24 August 1999

                     LONDON FORFAITING SOUTH KOREAN LOAN                      
                                                                              
London Forfaiting has finalised a US$88 million syndicated loan to Hanvit Bank
of South Korea.

The loan has a maturity of one year and is priced at a margin of LIBOR+1.2%
per annum.

London Forfaiting was mandated to raise the loan as a US$50 million club loan
initially but the gathering interest in it pushed it into a syndicated loan
facility which was oversubscribed and raised to US$88 million through a
diverse group of banks, including participants from Europe, Asia, and the
Middle East.

Co-arranger is Bank of Kaohsiung, lead managers are Vereins und Westbank,
United World Chinese Commercial Bank, Chang Hwa Commercial Bank London,
Chinatrust Commercial Bank, First Commercial Bank Singapore, Landesbank
Schleswig-Holstein Girozentrale, Taiwan Co-Operative Bank OBU and The Arab
Investment Company, while co-lead managers are Bank Leumi le-Israel, Bank of
Communications Singapore, Banque Misr, Chang Hwa Commercial Bank of Amsterdam,
DBS Bank, Fubon Commercial Bank, Indover Bank and SBI European Bank PLC.

Hanvit Bank was formed in January this year in a merger of the Commercial Bank
of Korea and Hanil Bank and is 94.75% owned by the South Korean government
through the Korean Deposit Insurance Corporation.

This is the first time Hanvit, South Korea's largest capitalized bank, at
3.445 trillion won (US$ 2.85 billion) and in the top 100 of world banks, has
raised funds in the loan market.

For further information contact:
Jack Wilson - tel: 0171 481 3410

END

MSCPBUMWRBGBGCC

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