36HA Municplty 48

    Lothian Mortgages Master Issuer plc

RE: Lothian Mortgages Master Issuer Plc
    GBP 350,000,000.00
    MATURING: 24/Apr/2050
    ISSUE DATE: 11/May/2006
    ISIN: XS0254005779

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
11/May/2006 TO 24/Jul/2006 HAS BEEN FIXED AT 4.776940 PCT

DAY BASIS 74/365

INTEREST PAYABLE VALUE 24/Jul/2006 WILL AMOUNT TO:
GBP 484.24 PER GBP 50,000.00 DENOMINATION

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

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