Southern Pacific Securities D PLC

As Agent Bank, please be advised of the following rate determined on:
10-Jun-2005

Issue               : Southern Pacific Securities D Plc - Class B
                      �14,800,000 FRN Due 10 Mar 2040
ISIN Number         : XS0148241200
Common Code/        : 14824120
144A ISIN
Issue Nomin     GBP : 14,800,000,00
Period              : 10-Jun-2005 to 12-Sep-2005      Payment Date 12-Sep-2005
Number of Days      : 94
Rate                : 7.36       Pool Factor:    0.3136
Denomination    GB  : 3,136.00

Amount Payable 
per Denomination    : 59.44

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 1267

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