AS63 Lloyds Bcm 26

    Permanent Financing No 1 PLC

RE: PERMANENT FINANCING (NO.1) PLC
    USD 1,750,000,000.00
    MATURING: 10/Sep/2007
    ISSUE DATE: 06/Mar/2003
    ISIN: US71419PAD24

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
12/Sep/2005 TO 12/Dec/2005 HAS BEEN FIXED AT 3.983750 PCT.

INTEREST PAYABLE VALUE 12/Dec/2005 WILL AMOUNT TO
USD 17,622,560.76 PER USD 1,750,000,000.00 NOMINAL.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 (0)20 7508 3858/3855 OR FAX: 44 (0)20 7508 3881.

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