Sandwell Commercial Finance No. 3 Limited



Re:  Sandwell
     GBP 19150000
     MATURING: 31-Dec-2032
     ISIN: XS0357088987

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
30-Sep-2008 TO 31-Dec-2008 HAS BEEN FIXED AT 7.500000 PCT

DAY BASIS: ACTUAL/365(PROP)

INTEREST PAYABLE VALUE 31-Dec-2008 WILL AMOUNT TO:
GBP 942.62 PER GBP 50000 DENOMINATION
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