Southern Pacific Securities D PLC

As Agent Bank, please be advised of the following rate determined on:12-Sep-2005

Issue               : Southern Pacific Securities D Plc - Class B
                      �14,800,000 FRN Due 10 Mar 2040
ISIN Number         : XS0148241200
Common Code/
144A ISIN           : 14824120
Issue Nomin     GBP : 17,800,000,00
Period              : 12-Sep-2005 to 12-Dec-2005      Payment Date 12-Dec-2005
Number of Days      : 91
Rate                : 7.09281           Pool Factor: 0.2577
Denomination    GB  : 2,577.00
Amount Payable 
per Denomination    : 45.57

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 1267

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