Finance For Resdntl - Result of Meeting

RNS No 2864b
FINANCE FOR RESIDENTIAL SOCIAL HOUSING PLC
21st September 1998


LETTER TO: COMPANY ANNOUNCEMENTS OFFICE

Finance for Residential Social Housing PLC ("FRESH")
#917,967,786 Series 1 Asset Backed Fixed Rate Premium Yield Notes due 2058 (the
"Notes")

FRESH issued the Notes on 26 March 1997. We acted as lead manager and listing
agent for the issue of the Notes.

We refer to letters sent to you on 20th July 1998 giving you notice of the
calling by FRESH of a meeting of the holders of the Series 1 Notes on 11th
August 1998, on 6th August 1998 informing you of the postponement of that
meeting until 2nd September 1998 and on 3rd September informing you of the
adjournment of the meeting until 16th September 1998.

On behalf of FRESH we hereby give you notice that the meeting was held on 16th
September 1998 and that the resolution to amend the terms and conditions of the
Series 1 Notes, in particular to alter the provisions relating to redemption was
duly passed.

The form of the Notice of the Series 1 Noteholders is below and is to be sent
to the Noteholders on 21st September 1998.

LETTER FROM:  GREENWICH NATWEST LIMITED


                              NOTICE

              FINANCE FOR RESIDENTIAL SOCIAL HOUSING PLC

                 To the Holders of the Outstanding

Series 1 Class A1 Asset Backed 8.369 Per Cent. Premium Yield Notes due 2058;

Series 1 Class A2 Asset Backed 8.569 Per Cent. Premium Yield Notes due 2058;

Series 1 Class A3 Asset Backed 8.569 Per Cent. Premium Yield Notes due 2058;

Series 1 Class B1 Asset Backed 8.769 Per Cent. Premium Yield Notes due 2058;

          issued by Finance for Residential Social Housing PLC


NOTICE IS HEREBY GIVEN to the Holders of the above Notes that, at the adjourned
Meeting of such Holders held at the offices of Greenwich NatWest Limited on 16
September 18 at 10 a.m. (London time), the Extraordinary Resolution set out in
the Notice of the Meeting which was held on 2 September 1998, previously
notified to Noteholders in accordance with the terms of the Trust Deed for
such Notes, was duly passed.


END

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