Permanent Master Issuer PLC



Re:  PERMANENT MASTER ISSUER PLC
     GBP 83600000
     MATURING: 15-Jul-2042
     ISIN: XS0288097511

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
15-Oct-2008 TO 15-Jan-2009 HAS BEEN FIXED AT 6.350000 PCT

DAY BASIS: ACTUAL/365(PROP)

INTEREST PAYABLE VALUE 15-Jan-2009 WILL AMOUNT TO:
GBP 1334958.52 PER GBP 83600000 DENOMINATION
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