JECI Limited

Pricing Supplement

JECI Limited
25 March 2003

Pricing Supplement

Issuer:                              JECI Limited
Description:                         EUR 3,080,000 Floating Rate Subordinated 
                                     Financial Tranche Notes
Currency/ Principal Amount:          Euro
Issue Price:                         99.70 per cent
Specified Denomination               Eur 10,000
Issue Date:                          16 April 2002
Maturity Date:                       16 April 2007
ISIN:                                XS014558632-6

     A copy of the above document has been submitted to the UK Listing Authority
      and will shortly be available for inspection at the UK Listing Authority's
                                Document Viewing Facility, which is situated at:

Financial Services Authority
25 The North Colonnade Canary Wharf
London
E14 5HS

Tel. no. (0)20 7676 1000

(Documents will normally be available for inspection within six normal
business hours of this notice being given).


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