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Nissho Iwai Europe (44JZ)

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Wednesday 16 October, 2002

Nissho Iwai Europe

Issue Repurchased

Nissho Iwai Europe PLC
16 October 2002

Fax dated 11 October 2002

          Nissho Iwal Europe Series 104 JPY 500,000,000 3.30% Notes
                  Due 24 February 2005 - XS0061620026

Please be advised that the above issue has been repurchased in full on 
11 October 2002. The outstanding balance is therefore ZERO.

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