Ind. Bank Of Korea - FRN Variable Rate Fix

RNS No 1827f
INDUSTRIAL BANK OF KOREA
2nd December 1997


AMENDMENT

RE:       INDUSTRIAL BANK OF KOREA EURO MEDIUM TERM NOTES

PRINCIPAL AMOUNT:      USD 100,000,000
ORIGINAL ISSUE DATE:   01-07-97
MATURITY DATE:         01-07-2000
COMMON CODE:           7802668
CUSIP/CSIN:            45603NAA3(144A)45603PA3(REGS)

WITH REFERENCE TO THE ABOVE NOTE ISSUE, THE INTERST RATE HAS
BEEN SET FOR 6 MONTHS AS FOLLOWS:

INTEREST RATE CALCULATION  - AMENDMENT - AMENDMENT

FURTHER TO A RECENT DOWNGRADE OF THE ABOVE MENTIONED ISSUE BY
MOODY'S, THE RATE HAS BEEN ADJUSTED AS STATED IN THE PRICING
SUPPLEMENT AS FOLLOWS:


INTEREST PERIOD:           01-07-97 - 31-12-97
6 MONTHS USD-LIBOR RATE:   5.90625
PLUS SPREAD:               PLUS 0.50
INTEREST RATE FOR PERIOD:  6.40625
NUMBER OF DAYS:            183
INTEREST DUE AT NEXT
INTEREST PAYMENT DATE:     USD 3,256.51 PER USD 100,000

FROM:
WILLIAM DOWLING/SAHRA GUTRIDGE
SECS DEPT
FNBC LONDON


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