Associates Corp - FRN Variable Rate Fix

RNS No 3572a
ASSOCIATES CORPORATION OF NORTH AMERICA
20th February 1998

TO COMPANY ANNOUNCEMENTS OFFICE

RE      ASSOCIATES CORPORATION OF NORTH AMERICA
        USD 500,000,000
        MATURITY : 21 MAY 2002
        CC:7640510

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WE CONFIRM THAT THE RATE OF INTEREST FOR THE PERIOD
24 FEBRUARY 1998 TO 22 MAY 1998 HAS BEEN FIXED AT
5.6875 PCT (FIVE SPOT SIX EIGHT SEVEN FIVE PER CENT).

THE RATE HAS BEEN CALCULATED USING THE 3 MONTH USD
LIBOR 5.62500 PLUS A MARGIN 0.0625 PER CENT.
THE INTEREST PAYABLE ON THE RELEVANT INTEREST PAYMENT
DATE 22 MAY 1998 AGAINST COUPON NO. 4 WILL BE
USD 13.74 (THIRTEEN US DOLLARS AND SEVENTY FOUR CENTS)
PER USD1,000 DENOMINATION AND USD 137.45 (ONE HUNDRED
AND THIRTY SEVEN DOLLARS AND FORTY FIVE CENTS) PER
USD10,000 DENOMINATION AND USD1,374.48 (ONE THOUSAND,
THREE HUNDRED AND SEVENTY FOUR DOLLARS AND FORTY EIGHT
CENTS) PER USD100,000 DENOMINATION.

THIS AMOUNT HAS BEEN COMPUTED ON THE ACTUAL NUMBER OF DAYS
ELAPSED (87) DIVIDED BY 360.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK
ON TEL:  [phone]/0146 OR FAX:  [phone].

RATE FIX DESK
CITIBANK, N.A., LONDON


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