Britannia Building


RE: BRITANNIA BUILDING SOCIETY
    GBP 5,500,000.00
    MATURING: 22-Dec-2010
    ISSUE DATE: 30-Dec-2004
    ISIN: XS0209198257

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
22-Dec-2006 TO 22-Mar-2007 HAS BEEN FIXED AT 5.438130 PCT

DAY BASIS 90/365

INTEREST PAYABLE VALUE 22-Mar-2007 WILL AMOUNT TO:
GBP 134.09 PER GBP 10,000.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881
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