Pillar Funding


As Agent Bank, please be advised of the following rate determined on:13-Aug-2008
Issue              : Pillar Funding Series 2005 - Class A
                     EUR 319,000,000 Asset Backed FRN Due 15-Nov-2012
ISIN Number        : XS0236180286
Common Code /      : 23618028
144A ISIN
Issue Nomin    EUR : 319,000,000.00
Period             : 15-Aug-2008 to 17-Nov-2008     Payment Date 17-Nov-2008
Number of Days     : 94
Rate               : 5.075
Denomination   EU  : 50,000.00
Amount Payable     : 662.57
per Denomination

Bank of New York
Rate Fix Desk                              Telephone    44 1202 689580
Corporate Trust Services                   Facsimile    44 1202 689601



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