Pillar Funding


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

Issue            : Pillar Funding Series 2005 - Class A
                   EUR 319,000,000 Asset Backed FRN due 15 Nov 2012
ISIN Number      : XS0236180286
Common Code/     : 23618028
144A ISIN
Issue Nomin EUR  : 319,000,000.00
Period           : 15-Nov-2007 to 15-Feb-2008 Payment Date 15-Feb-2008
Number of Days   : 92
Rate             : 4.685
Denomination EU  : 50,000.00

Amount Payable   : 598.64
per Denomination

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



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