PREFERRED RESIDENTIAL SECURITIES 7 PLC

As Agent Bank, please be advised of the following rate determined on:15-Jun-2006

Issue               : Preferred Residential Securities 7 plc - Class B
                      GBP40,500,000 Mortgage Backed FRN due 15 Dec 2041
ISIN Number         : XS0183101558
Common Code/
144A ISIN           : 18310155
Issue Nomin     GBP : 40,500,000.00
Period              : 15-Jun-2006 to 15-Sep-2006       Payment Date 15-Sep-2006
Number of Days      : 92
Rate                : 5.83406           Pool Factor: 0.913335
Denomination    GB  : 9,133.35
Amount Payable 
per Denomination    : 134.31

Institutional       Telephone   44(0) 1202 32 8226
Trust Services      Facsimile   44(0) 1202 34 7939

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