First Flexible No.5 plc




As Agent Bank, please be advised of the following rate determined on: 01-Aug-2007

Issue               : First Flexible No. 5 Plc - Class M
                      GBP 22,500,000.00  FRN Due 01-Jun-2034
ISIN Number         : XS0149246554
Common Code/        : 14924655
144A ISIN
Issue Nomin     GBP : 22,500,000.00
Period              : 01-Aug-2007 to 03-Sep-2007          Payment Date 03-Sep-2007
Number of Days      : 33
Rate                : 6.71063
Denomination GBP    : 10,000.00

Amount Payable
per Denomination    : 60.67

Bank of New York
Rate Fix Desk                           Telephone 44 1202 689580
Institutional Trust Services  Facsimille          44 1202 689601



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