RNS No 6657p
DAIWA PB LIMITED
18th March 1998


TO:   COMPANY ANNOUNCEMENTS OFFICE

RE: DAIWA PB JPY 20,000,000,000.- UNDATED GUARANTEED SUBORDINATED
    FLOATING RATE NOTES

PLEASE BE ADVISED THAT FOR THE PERIOD FROM 25MAR98 TO 25SEP98
THE NOTES WILL CARRY AN INTEREST RATE OF 2.7 PER CENT PER ANNUM
(LONG TERM PRIME RATE 2.6 PLUS 0.1 PER CENT). THE COUPON AMOUNT PER
JPY 100,000,000.- NOT WILL BE JPY 1,361,096.- PAYABLE ON 25SEP98.

FROM:
SECURITIES DEPT
DAIWA BANK, LONDON BRANCH AS AGENT BANK


END

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