64RQ Sandwell 1 C

        
 Re:                                                                                               SANDWELL COMMERCIAL
FINANCE NO.1 PLC
                                                                                                   GBP 12500000
                                                                                                   MATURING: 11-May-2039
                                                                                                   ISIN: XS0191372522
                                                                                                                                       
 PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
 11-Nov-2008 TO 11-Feb-2009 HAS BEEN FIXED AT 5.095000 PCT
  
 DAY BASIS: ACTUAL/365(GBP)
  
 INTEREST PAYABLE VALUE 11-Feb-2009 WILL AMOUNT TO:
 GBP 6421.1 PER GBP 500000 DENOMINATION
    

Sandwell 1 C (LSE:64RQ)
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