Southern Pacific Securities D PLC

As Agent Bank, please be advised of the following rate determined on:10-Mar-2006

Issue               :   Southern Pacific Securities D Plc - Class B
                        �14,800,000 FRN due 10 March 2040
ISIN Number         :   XS0148241200
Common Code/
144A ISIN           :   14824120
Issue Nomin     GBP :   14,800,000.00
Period              :   10-Mar-2006 to 12-Jun-2006      Payment Date 12-Jun-2006
Number of Days      :   94
Rate                :   7.08        Pool Factor:    0.1948
Denomination    GBP :   1,948.00
Amount Payable  
per Denomination    :   35.52

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

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