Southern Pacific Securities 04-2 plc




As Agent Bank, please be advised of the following rate determined on: 10-Dec-2007

Issue               : Southern Pacific Securities 04-2 Plc - Class A2c
                      GBP 235,200,000.00 Mortgage Backed FRN Due 10-Jun-2043
ISIN Number         : XS0196612963
Common Code/        : US84359VAF94
144A ISIN
Issue Nomin     GBP : 235,200,000.00
Period              : 10-Dec-2007 to 10-Mar-2007          Payment Date 10-Dec-2008
Number of Days      : 91
Rate                : 6.865                     Pool Factor:    0.13397
Denomination GBP    : 1,339.70

Amount Payable
per Denomination    : 22.87

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



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