London Interbank Offered Rates

London Interbank Offered Rates (LIBOR) on Thursday (July 22,2004).

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Rates at 11:00 London time Thursday (July 22,2004)

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             USD      GBP      CAD      EUR           JPY

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O/N        1.30125  4.39750     -     2.05438     0.03125

1 Week     1.33250  4.55875     -     2.07488     0.03250

2 Weeks    1.34750  4.56000     -     2.07313     0.03500

1 Month    1.45000  4.67375     -     2.07663     0.03875

2 Months   1.55000  4.77875     -     2.09744     0.04563

3 Months   1.66000  4.87625     -     2.11938     0.05250

4 Months   1.75000  4.93250     -     2.14000     0.05500

5 Months   1.84000  4.98000     -     2.16025     0.05925

6 Months   1.93000  5.04000     -     2.19913     0.06513

7 Months   1.00938  5.08250     -     2.22188     0.06850

8 Months   2.08813  5.12375     -     2.24800     0.07063

9 Months   2.16000  5.16375     -     2.28000     0.07875

10 Months  2.23625  5.20250     -     2.31000     0.08313

11 Months2  .31000  5.24250     -     2.34000     0.08750

12 Months2  .39000  5.28000     -     2.37975     0.09313

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