CITY MORTGAGE RECEIVABLES 1 PLC

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

Issue               : City Mortgage Receivables 1 Plc
                      �32,010,000 Mortgage-Backed FRN 2023
ISIN Number         : XS0062055693
Common Code/
144A ISIN           : 62055693
Issue Nomin     GBP : 32,010,000.00
Period              : 15-Jun-2006 to 17-Jul-2006   Payment Date 17-Jul-2006
Number of Days      : 32
Rate                : 5.31687       Pool Factor: 0.04948909
Denomination    GB  : 1,584,145.66
Amount Payable 
per Denomination    : 7,384.28

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 1267

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