Permanent Master Issuer



Re:  PERMANENT MASTER ISSUER PLC
     USD 1500000000
     MATURING: 15-Jul-2033
     ISIN: US71419GAG55

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
15-Oct-2008 TO 15-Jan-2009 HAS BEEN FIXED AT 4.862500 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 15-Jan-2009 WILL AMOUNT TO:
USD 18639583.33 PER USD 1500000000 DENOMINATION
Perm.mast.5 33 (LSE:91AD)
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