Permanent Master Issuer


Re:  PERMANENT MASTER ISSUER PLC
     USD 134,900,000.00
     MATURING: 15-Jul-2042
     ISIN: US71419GAF72

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
15-Apr-2008 TO 15-Jul-2008 HAS BEEN FIXED AT 3.113130 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 15-Jul-2008 WILL AMOUNT TO:
USD 1,061,568.68 PER USD 134,900,000.00 DENOMINATION
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