TIDM38IN 
 
 
Re:  Sandwell 
     GBP 19150000 
     MATURING: 31-Dec-2032 
     ISIN: XS0357088987 
PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD 
31-Mar-2011 TO 30-Jun-2011 HAS BEEN FIXED AT 2.018130 PCT 
DAY BASIS: ACTUAL/365(PROP) 
INTEREST PAYABLE VALUE 30-Jun-2011 WILL AMOUNT TO: 
GBP 251.58 PER GBP 50000 DENOMINATION
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