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Zenith Inv. Ld. (05NW)

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Thursday 23 August, 2001

Zenith Inv. Ld.

FRN Variable Rate Fix-Amdmt

Zenith Investments Ld
22 August 2001


AMENDMENT

As Agent Bank, please be advised of the following rate determined 
on 20-FEB-2001.

Issue             :  ZENITH INVESTMENTS LIMITED - SERIES 2000-3 DUE FEB 2010
                     EUR21,000,000 STEP-UP FLOATING CREDIT LINKED NOTES
ISIN NO           :  XS0107247677
Issue Nominal EUR :  21,000,000.00
Period            :  22-FEB-2001  To  22-AUG-2001    Payment Date  22-AUG-2001
Number of Days    :  181
Rate              :  8.936
Denomination EUR  :  10,000.00 
Amount Payable
Per Denomination  :  449.28

From:
Alison Clayton                 Telephone 44 (0) 1202 34 1286
Institutional Trust Services   Facsimile 44 (0) 1202 34 7438