Sandwell Commercial Finance No. 3 Limited



Re:  Sandwell
     GBP 19,150,000.00
     MATURING: 31-Dec-2032
     ISIN: XS0357088987

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
18-Apr-2008 TO 30-Jun-2008 HAS BEEN FIXED AT 6.998500 PCT

DAY BASIS: ACTUAL/365(PROP)

INTEREST PAYABLE VALUE 30-Jun-2008 WILL AMOUNT TO:
GBP 697.94 PER GBP 50,000.00 DENOMINATION
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