04PZ Eqty.rel.fd.a2

    Equity Release Funding (No.1) PLC

RE: EQUITY RELEASE FUNDING (NO.1) PLC
    GBP 35,000,000.00
    MATURING: 26-Feb-2026
    ISSUE DATE: 30-Mar-2001
    ISIN: XS0121197809

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
26-Nov-2004 TO 28-Feb-2005 HAS BEEN FIXED AT 5.303750 PCT

INTEREST PAYABLE VALUE 28-Feb-2005 WILL AMOUNT TO:
GBP 4.37 PER GBP 319.79 DENOMINATION
GBP 43.68 PER GBP 3,197.90 DENOMINATION
GBP 436.80 PER GBP 31,979.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881

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