RNS No 6385v
MAPIRI COMPANY PLC


FROM:               16-02-99     

ISSUER:             MAPIRI COMPANY LIMITED (Part of the Multiple Issuer
                    Programme No 2 - Incorporated in the Cayman Islands)
                    
                    M2.44) USD 38,000,000 ZERO COUPON KOREAN WON LINKED
                    NOTES DUE 26-03-2001

FULLY PAID

(Represented by Notes to Bearer  USD 100,000  of each)


Issue Price:        100%        

Issuer:             J P MORGAN SECURITIES LIMITED             

A copy of the above is available for inspection from the Company
Announcements office of the Stock Exchange, London.


END

PS CCPCKBDKDABD
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