JECI Limited
14 April 2003


FORMAL NOTICE FOR SPECIALIST SECURITIES

PUBLICATION DATE:            14th April 2003

Application has been made to the UK Listing Authority for the following 
securities to be admitted to the Official List.

DETAILS OF ISSUE:            EUR1,000,000,000 Series 2 Credit Linked Notes due 2007 (the 'JECI Notes') comprising:
                             the Series 2 EUR 300,000,000 Floating Rate Master Tranche Notes due 2007 (the 'Floating
                             Rate Master Tranche '), the series 2 EUR 200,000,000 Fixed Rate Master Tranche Notes due
                             2007 (the 'Fixed Rate Master Tranche'), the Series 2 EUR 180,000,000 Floating Rate
                             Corporate Sector Tranche Noets due 2007, the Series 2 EUR 60,000,000 Floating Rate
                             Subordinated Financial Sector Tranche Notes due 2007 (the 'Floating Rate Sector Tranches'
                             and together with the series 2 Floating Rate Master Tranche, the 'Floating Rate Tranches')
                             and the series 2 EUR 120,000,000 Fixed Rate Corporate Sector Tranche Notes due 2007, the
                             Series 2 EUR 40,000,000 Fixed Rate Senior Financial Sector Tranche Notes due 2007 and the
                             Series 2 EUR 40,000,000 Fixed Rate Subordinated Financial Sector Tranche Notes due 2007
                             (the 'Fixed Rate Sector Tranches' and together with the Series 2 Fixed Rate Master Tranche,
                             the 'Fixed Rate Tranches') exchangeable among themselves in accordance with their terms

                             Under the U.S.$10,000,000,000 Programme for the issue of Notes by JECI Limited with a
                             minimum maturity of one month and a maximum maturity of thirty years.

ISSUER:                      JECI Limited

INCORPORATED IN:             Jersey

GUARANTOR:                   N/A

INCORPORATED IN:             N/A

AUTHORISED ADVISOR:

Particulars relating to the issue may be obtained during usual business hours 
for fourteen days from the date of this formal notice from:

Citibank, N.A.                                        JPMorgan Chase Bank
P.O. Box 18005                                        60 Victoria Embankment
5 Carmelite Street                                    London EC4Y 0JP
London EC4Y 0PA


In addition, a copy of the Particulars is available for inspection at the 
Document Viewing Facility at the Financial Services Authority,
25 The North Colonnade, London E14 5HS.


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