CITY MORTGAGE RECEIVABLES 1 PLC


As Agent Bank, please be advised of the following rate determined on:
15-May-2006

Issue              :  City  Mortgage Receivables 1 Plc
                      GBP 32,010,000 Mortgage-Backed FRN 2023

ISIN Number        :  XS0062055693

Common Code/
144A ISIN          :  62055693

Issue Nomin GBP    :  32,010,000.00

Period             :  15-May-2006 to 15-Jun-2006 Payment Date 15-Jun-2006

Number of Days     :  31

Rate               :  5.295       Pool Factor 0.05094979

Denomination GB    :  1,630,902.78

Amouny Payable     :  7,334.37
per Denomination

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