First Flexible No.5 plc




As Agent Bank, please be advised of the following rate determined on: 01-Apr-2008

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-Apr-2008 to 01-May-2008          Payment Date 01-May-2008
Number of Days      : 30
Rate                : 6.57875
Denomination GBP    : 10,000.00

Amount Payable
per Denomination    : 53.92

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



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