RNS No 7361h
ACRES (NO 2) PLC
30th June 1997


RE.  ACRES(NO 2) GBP 17000000 CLASS M1 COMMERCIAL
BACKED FRN DUE 2007

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WE HEREBY INFORM YOU THAT FOR THE INTEREST PERIOD
30/6/97  TO  29/9/97
THE NOTES WILL BEAR INTEREST AT A RATE OF 7.35234
PER CENT PER ANNUM WITH A COUPON AMOUNT OF 183.30
PER GBP 10000 NOTE PAYABLE ON 29/9/97.


BANKERS TRUST COMPANY LONDON
AGENT BANK
CORPORATE TRUST SERVICES
BANKERS TRUST COMPANY LONDON


END