Southern Pacific Securities 04-2 plc



As Agent Bank, please be advised of the following rate determined on: 10-Sep-2008
Issue              � Southern Pacific Securities 04-2 plc - Class B1c
                     GBP 31,600,000.00 Mortgage Backed FRN Due 10-Dec-2042
ISIN Number        � XS0196614829
Common Code / 144A � US84359VAJ17
 ISIN
Issue Nomin GBP    � 31,600,000.00
Period             � 10-Sep-2008 to 10-Dec-2008            Payment Date 10-Dec-2008
Number of Days     � 91
Rate               � 6.21688                            Pool Factor: 0.872458
Denomination GBP   � 8,724.58              �                      �

Amount Payable per � 134.86                �                      �
 Denomination

Bank of New York
Rate Fix Desk                              Telephone       � 44 1202 689580
Corporate Trust Services                   Facsimile       � 44 1202 689601



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