Re:                                                                                                   PERMANENT
FINANCING NO.5 PLC
                                                                                                       USD 32500000
                                                                                                       MATURING:
10-Jun-2042
                                                                                                       ISIN:
US71419NAH89
                                                                                                                                   
 PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
 10-Dec-2008 TO 10-Mar-2009 HAS BEEN FIXED AT 2.449380 PCT
  
 DAY BASIS: ACTUAL/360
  
 INTEREST PAYABLE VALUE 10-Mar-2009 WILL AMOUNT TO:
 USD 199012.13 PER USD 32500000 DENOMINATION
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