Chelsea Building Society



Fixing Date                          � 5/28/2008

Issue                                � Chelsea Building Society
                                        Series 57

ISIN                                 � XS0288216541

Pursuant to our appointment as Agent for the above stated issue,
please be advised of the following interest rate determination:

Date from                            � 5/27/2008
Date to                              � 8/26/2008
Total Rate                           � 5.92813%
Day count/Day Basis                  � Act / 365
Denomination                         � GBP 50,000.00
Nominal Amount                       � GBP 2,300,000.00
Coupon Amount                        � GBP 33,993.36
Pool factor                          � 1
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