TIDM64RQ 
 
 
Re:  SANDWELL COMMERCIAL FINANCE NO.1 PLC 
     GBP 12,500,000.00 
     MATURING: 11-May-2039 
     ISIN: XS0191372522 
PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD 
11-Feb-2011 TO 11-May-2011 HAS BEEN FIXED AT 1.52 PCT 
DAY BASIS: ACTUAL/365(GBP) 
INTEREST PAYABLE VALUE 11-May-2011 WILL AMOUNT TO: 
GBP 1,856.97 PER GBP 500,000.00 DENOMINATION
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