Preferred Residential Securities 05-1 plc




As Agent Bank, please be advised of the following rate determined on: 17-Sep-2007

Issue               : Preferred Residential Securities 05-01 Plc - Class A2c
                      GBP 218,600,000.00 Mortgage Backed FRN Due 15 Jun 2043
ISIN Number         : XS0217069656
Common Code/        : US740378AF16
144A ISIN
Issue Nomin     GBP : 218,600,000.00
Period              : 17-Sep-2007 to 17-Dec-2007          Payment Date 17-Dec-2007
Number of Days      : 91
Rate                : 6.91125                     Pool Factor:    0.6831732
Denomination GBP    : 34,158.66

Amount Payable
per Denomination    : 588.58

Bank of New York
Rate Fix Desk                           Telephone  44 1202 689580
Institutional Trust Services            Facsimille 44 1202 689601



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