Melrose Financing No. 1 

RE: MELROSE FINANCING NO1 PLC
    USD 43,500,000.00
    MATURING: 15/Feb/2008
    ISSUE DATE: 27/Feb/2001
    ISIN: XS0125292366

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
15/May/2006 TO 15/Aug/2006 HAS BEEN FIXED AT 6.120000 PCT.

DAY BASIS 92/360

INTEREST PAYABLE VALUE 15/Aug/2006 WILL AMOUNT TO
USD 156.40 PER USD 10,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 (0)20 7508 3858/3855 OR FAX: 44 (0)20 7508 3881.

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