Sandwell Commercial Finance No. 1 Plc


Re:  SANDWELL COMMERCIAL FINANCE NO.1 PLC
     GBP 12,500,000.00
     MATURING: 11-May-2039
     ISIN: XS0191372522

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
12-May-2008 TO 11-Aug-2008 HAS BEEN FIXED AT 6.480630 PCT

DAY BASIS: ACTUAL/365(GBP)

INTEREST PAYABLE VALUE 11-Aug-2008 WILL AMOUNT TO:
GBP 8,056.52 PER GBP 500,000.00 DENOMINATION
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