BW20030630000049  20030630T141559Z UTC


( BW)(BCL-INTNL.-FINANCE)(BH68) Fixed To Floating Rate Note Conversion

    Business Editors
    UK REGULATORY NEWS

    LONDON--(BUSINESS WIRE)--June 30, 2003--

BCL International 
XS0099236167
EUR 8,000,000.00 STEP UP EMTN due 15.07.2009

NOTIFICATION OF EXERCISE OF CONVERSION TO FLOATING RATE NOTE
-------------------------------------------------------------

Please be advised that in accordance with the pricing supplement for
the above mentioned issue, the Issuer will exercise the option to
convert the interest rate from fixed to floating rate. The day basis
will change to A/365.

This will take effect from the coupon paying 15 January 2004. The
interest payment value 15 July 2003 will remain fixed.

Please arrange to amend your records accordingly.

   Short Name: BCL Intnl. Finance
   Category Code: MSC
   Sequence Number: 00006495
   Time of Receipt (offset from UTC): 20030630T144745+0100

    --30--RA/uk*

    CONTACT: BCL International Finance Limited
 
    KEYWORD: UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: BANKING
    SOURCE: BCL Intnl. Finance

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