RNS No 7362j
ACRES (NO1) PLC
30th June 1997

RE.  ACRES (NO 1) GBP 5450000 CLASS M2
COMMERCIAL MORTGAGE BACKED FLOATING RATE NOTES
DUE 2005
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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 8.20234
PER CENT PER ANNUM WITH A COUPON AMOUNT OF 204.50
PER GBP 10000 PAYABLE ON 29/9/1997.

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

END