As Agent Bank, please be advised of the following rate determined            on: 10-Dec-2008
 Issue                           � The Higher Education Securitised Investments (THESIS) - Class A4
                                 GBP 27,300,000.00 Mezzanine Asset Backed FRN Due Perpetual
 ISIN Number                     � XS0085726585
 Common Code / 144A ISIN         � 85726585
 Issue Nomin GBP                 � 27,300,000.00
 Period                          � 10-Dec-2008 to 12-Jan-2009                  Payment Date 12-Jan-2009
 Number of Days                  � 33
 Rate                            � 4.03625                       Pool Factor: 0.2906671
 Denomination GBP                � 29,066.71              �                                       �
                                                                                                       
 Amount Payable per              � 106.07                 �                                       �
 Denomination
                                                                                                       
 Bank of New York
 Rate Fix Desk                                            Telephone            � 44 1202 689580
 Corporate Trust Services                                 Facsimile            � 44 1202 689601
    
    
    


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