TIDM81RF 
 
Re:  SANDWELL COMMERCIAL FINANCE NO.2 PLC 
     GBP 14,000,000.00 
     MATURING: 30-Sep-2037 
     ISIN: XS0229031280 
PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD 
30-Dec-2011 TO 30-Mar-2012 HAS BEEN FIXED AT 4.780060 PCT 
DAY BASIS: ACTUAL/365(PROP) 
INTEREST PAYABLE VALUE 30-Mar-2012 WILL AMOUNT TO: 
GBP 408.57 PER GBP 34,375.36 DENOMINATION
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