Loan Stock Interest

British Empire Sec & Gen Tst PLC
3 January 2002


The Board announces that the rate (gross of income tax) on the Index Loan
Stock for the quarter ended 31 December 2001 is 0.893p per unit calculated on
a net dividend basis, equivalent to £8.93 per 1,000 units.  The record date is
31 December 2001 and the payment date is 10 January 2002.