AS13 Eqty Rel2'a1'27

    Equity Release Funding (No. 2) PLC

RE: EQUITY RELEASE FUNDING (No.2) PLC
    GBP 45,000,000.00
    MATURING: 26/May/2027
    ISSUE DATE: 11/Jun/2002
    ISIN: XS0147705775

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
28/Nov/2005 TO 27/Feb/2006 HAS BEEN FIXED AT 5.055630 PCT.

DAY BASIS 91/365

INTEREST PAYABLE VALUE 27/Feb/2006 WILL AMOUNT TO
GBP 9.60 PER GBP 762.00 DENOMINATION.
GBP 96.05 PER GBP 7,620.00 DENOMINATION.
GBP 960.46 PER GBP 76,200.00 DENOMINATION.

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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