THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF NOTEHOLDERS.
IF NOTEHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY SHOULD TAKE, THEY SHOULD
SEEK THEIR OWN FINANCIAL ADVICE IMMEDIATELY FROM THEIR OWN PROFESSIONAL
ADVISERS.
NOTICE OF RESULTS OF THE MEETINGS
In respect of a meeting (the "First Meeting") of the holders
(the "Class C Noteholders") of the:
€5,000,000 Class C1a Mortgage Backed Floating Rate Notes due 2042
ISIN: XS0196615396, US84359VAK89; CUSIP: 84359VAK8
£19,400,000 Class C1c Mortgage Backed Floating Rate Notes due 2042
ISIN: XS0196616360, US84359VAM46; CUSIP: 84359VAM4
(the "Class C Notes")
In respect of a meeting (the "Second Meeting") of the holders
(the "Class D Noteholders") of the:
€5,000,000 Class D1a Mortgage Backed Floating Rate Notes due 2042
ISIN: XS0196616527, US84359VAN29; CUSIP: 84359VAN2
£19,400,000 Class D1c Mortgage Backed Floating Rate Notes due 2042
ISIN: XS0196618069, US84359VAQ59; CUSIP: 84359VAQ5
(the "Class D Notes")
In respect of a meeting (the "Third Meeting") of the holders
(the "Class E Noteholders") of the:
£7,000,000 Class E Mortgage Backed Floating Rate Notes due 2042
ISIN: XS0196618499
(the "Class E Notes")
issued by
SOUTHERN PACIFIC SECURITIES 04-2 PLC
(the "Issuer")
on or about 9 August 2004
The Class C Noteholders, the Class D Noteholders and the Class E Noteholders
are together referred to as the "Noteholders" and the Class C Notes, the Class
D Notes and the Class E Notes are together referred to as the "Notes".
Capitalised terms used but not otherwise defined in this notice shall have the
meanings ascribed to them in a consent solicitation memorandum issued by the
Issuer on 10 November 2014 (the "Consent Solicitation Memorandum").
The First Meeting, the Second Meeting and the Third Meeting of the Noteholders
were each convened by the Issuer and held on 5 December 2014 (the "Meetings")
to consider (a) the First Extraordinary Resolution to approve the amendment of
the Liquidity Facility Agreement to allow for a reduction in the size of the
Commitment; and (b) the Second Extraordinary Resolution to approve the
amendment of the ratings required of the Liquidity Facility Provider pursuant
to the Liquidity Facility Agreement, each as more specifically described in the
Consent Solicitation Memorandum.
NOTICE IS HEREBY GIVEN to the Noteholders that, at the First Meeting, the
Second Meeting and the Third Meeting, the Class C Noteholders, the Class D
Noteholders and the Class E Noteholders respectively passed each of the
Extraordinary Resolutions proposed.
Queries may be addressed to the Issuer as follows:
SOUTHERN PACIFIC SECURITIES 04-2 PLC
4th Floor
40 Dukes Place
London EC3A 7NH
Attention: the Directors
Telephone: +44 203 367 8200
Fax: +44 203 170 0246
e-mail: spvservices@capitafiduciary.co.uk
Ref: SOUTHERN PACIFIC SECURITIES 04-2 PLC
This Notice is given by the Issuer.
Dated 5 December 2014
Legal.39020095.1/RCHN/L0201.00045 1 05.12.14