FRN Variable Rate Fix

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Permanent Financing No 4


Re:  PERMANENT FINANCING (NO.4) PLC
     GBP 32,000,000.00
     MATURING: 10-Jun-2042
     ISIN: XS0187602155

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
10-Jun-2008 TO 10-Sep-2008 HAS BEEN FIXED AT 6.450000 PCT

DAY BASIS: ACTUAL/365(FIX)

INTEREST PAYABLE VALUE 10-Sep-2008 WILL AMOUNT TO:
GBP 520,241.10 PER GBP 32,000,000.00 DENOMINATION

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