BW20030908002135  20030909T061107Z UTC


( BW)(SOUTHERN-PACIFIC-F)(AR87) FRN Variable Rate Fix

    Business Editors
    UK REGULATORY NEWS

    LONDON--(BUSINESS WIRE)--Sept. 9, 2003--

As Agent Bank, please be advised of the following rate determined on: 08-Sep-2003

Issue               : Southern Pacific Securities F Plc - M2
                      EUR 10,000,000 Class M2 Mortgage Backed FRN due 2041
ISIN Number         : XS0163537524
Issue Nomin     EUR : 10,000,000.00
Period              : 10-Sep-2003 to 10-Dec-2003          Payment Date 10-Dec-2003
Number of Days      : 91
Rate                : 3.757           
Denomination    EU  : 100,000.00

Amount Payable      : 949.69
per Denomination

   Short Name: Southern Pacific F
   Category Code: RC
   Sequence Number: 00009498
   Time of Receipt (offset from UTC): 20030909T022509+0100

    --30--SS/ny

    CONTACT: Southern Pacific Securities F PLC

    KEYWORD: UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: BANKING
    SOURCE: Southern Pacific F

Today's News On The Net - Business Wire's full file on the Internet
                          with Hyperlinks to your home page.
                          URL: http://www.businesswire.com