First Flexible No.5 plc



As Agent Bank, please be advised of the following rate determined on: 02-Jan-2007

Issue               : First Flexible No. 5 Plc - Class M
                      GBP 22,500,000.00  FRN Due 1 Jun 2034
ISIN Number         : XS0149246554
Common Code/        : 14924655
144A ISIN
Issue Nomin     GBP : 22,500,000.00
Period              : 02-Jan-2007 to 01-Feb-2007          Payment Date 01-Feb-2007
Number of Days      : 30
Rate                : 5.99063
Denomination GBP    : 10,000.00

Amount Payable
per Denomination    : 49.24

JPMorgan Chase Bank
Rate Fix Desk                           Telephone 44 (0) 1202 32 8226
Institutional Trust Services  Facsimille          44 (0) 1202 34 7939



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