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 M
                      �17,200,000 FRN Due 10 Mar 2040
ISIN Number         : XS0148241036
Common Code/
144A ISIN           : 14824103
Issue Nomin     GBP : 17,200,000.00
Period              : 12-Dec-2005 to 10-Mar-2006      Payment Date 10-Mar-2006
Number of Days      : 88
Rate                : 5.89125           Pool Factor: 0.2169
Denomination    GB  : 2,169.00
Amount Payable 
per Denomination    : 30.81

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

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