Sandwell Commercial Finance No2

RE: SANDWELL COMMERCIAL FINANCE NO.2 PLC
GBP 17,150,000.00
MATURING: 30-Sep-2037
ISSUE DATE: 23-Sep-2005
ISIN: XS0229030712

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
30-Jun-2006 TO 29-Sep-2006 HAS BEEN FIXED AT 5.303750 PCT

DAY BASIS 91/365

INTEREST PAYABLE VALUE 29-Sep-2006 WILL AMOUNT TO:
GBP 661.15 PER GBP 50,000.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881
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