Early Redemption

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Early Redemption

    Celtic Residential Irish Mortgage Securitisation No.2 Plc

Notice of Redemption
Celtic Residential Irish Mortgage Securitisation No. 2 P.L.C.
NOTES                                                         ISIN           Common Code
EUR 15,236,857 Class B Secured Floating Rate Notes due 2030   XS0091080761   9108076

(together, the Notes)

NOTICE IS HEREBY GIVEN that, pursuant to Condition 5(c) of the terms and
conditions of the Notes, Celtic Residential Irish Mortgage Securitisation No. 2
p.l.c. will redeem all of the outstanding Notes on the Interest Payment Date
falling on 18 August 2006 at par, together with accrued interest up to, but
excluding, the date of redemption.

For and behalf of
Celtic Residential Irish Mortgage Securitisation No. 2 p.l.c.

Celtic Res2 'b' (LSE:37NB)
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