31.2.11 Securities Advice of Money Income

Chemical Bank, 05-APR-98,

# 890, Pearl Towers, New York

Lotus Avenue,

Tokyo,

Japan.

Sub: Advice of Money Income from Securities -

Coupon Payment

Kind Attention Mr. Nomura Shikara,

Operations Head,

Securities Department.

Dear Sir/Madam,

Please be advised that the Coupon for Security with details as shown below has been paid:

Table 31-16 Header

Header	Details
Our Reference	000SE01980940021
Identification of Securities for which Coupon has been Paid	ISIN USFRNICI0007 IC Industries Finance Corporation Guaranteed FRN 1996
Securities Safekeeping Account	2938451
Quantity of Securities for which Coupon has been paid	2,000,000.00 Face Amount
Coupon Number Collected	004
Coupon Due Date	01-APR-1998
Coupon Interest Rate	8.00 Percent Per Coupon
Gross Amount	*89,100.00 USD
Our Charges	20.00 USD
Net Coupon Amount Proceeds	*89,080.00 USD
Value Date of Payment	01-APR-1998
Account Paid	218521

Other Information:

We have debited Our Income collection charges as indicated above. Please quote Our Reference in all further correspondence relating to above coupon payment.

Thanking You,

For Chemical Bank,

New York,

USA