CITY MORTGAGE RECEIVABLES 1 PLC

As Agent Bank, please be advised of the following rate determined on:15-Sep-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-Sep-2006 to 16-Oct-2006        Payment Date 16-Oct-2006
Number of Days      : 31
Rate                : 5.55219                           Pool Factor: 0.04601047
Denomination    GB  : 1,472,795.09
Amount Payable
per Denomination    : 6,945.05

JPMorgan Chase Bank
Rate Fix Desk                     Telephone   44 (0) 1202 32 6660
Institutional Trust Services      Facsimile   44 (0) 1202 34 7939

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