I stand corrected mate ,not heard of this award before .
Oh but you have and just don't realise it. It is, of course, the female equivalent of a knighthood:
The Most Excellent Order of the British Empire is an order of chivalry established on 4 June 1917 by King George V. The Order is composed of five classes in civil and military divisions. In descending order of seniority, these are:
Knight Grand Cross or Dame Grand Cross of the Most Excellent Order of the British Empire (GBE).
Knight Commander or Dame Commander of the Most Excellent Order of the British Empire (KBE or DBE)
Commander of the Most Excellent Order of the British Empire (CBE)
Officer of the Most Excellent Order of the British Empire (OBE)
Member of the Most Excellent Order of the British Empire (MBE)
I suppose most just think of it as a knighthood without realising it is in the Order of the British Empire. There are other orders of knighthood but King George V founded this order to fill gaps in the British honours system:
the Most Honourable Order of the Bath honoured only senior military officers and civil servants;
the Most Distinguished Order of St Michael and St George honoured diplomats; and
the Royal Victorian Order honoured those who had personally served the Royal Family.
You will be interested to know I am trying to find out anything about the 1987 corporate video "Ernie's Pension Fund" made for British Rail by Alan JW Bell. My brother in law is checking with other senior retired railway staff.