RNS Number:8004N
Paragon Mortgages (No.4) PLC
20 June 2005


The following classes of asset-backed specialist debt securities (the "notes") 
issued by us, PARAGON MORTGAGES (N0.4) PLC (the "issuer"), in April 2001 are 
listed on the Official List maintained by the UK Listing Authority and are 
admitted to trading on the London Stock Exchange (the "Exchange"):

     #457,500,000 Class A Mortgage Backed Floating Rate Notes Due 2032 
     #42,500,000  Class B Mortgage Backed Floating Rate Notes Due 2044.

We have issued notice to noteholders (in accordance with the notice provisions 
applicable to the Notes) that all of the outstanding Notes will be redeemed in 
full on 7 July 2005.

Accordingly, this document constitutes notification to you (in your capacity as 
the "company Announcements Office") in accordance with Rule 1.22 of the UK 
Listing Rules that the Issuer wishes the UK Listing Authority to cancel the 
listing of the Notes with effect from 7 July 2005.

Also, in accordance with Rule 3.19 of the Exchange's Admission and Disclosure 
Standards, by this document the Issuer requests the Exchange to cancel and 
discontinue the right of the Notes to be traded with effect from 7 July 2005.

If the Exchange accepts with this request, the Issuer authorises and requests 
the Exchange to announce through the Regulatory News Service the intention 
effect such cancellation. We attach in the Schedule to this fax a form of notice 
for this purpose which has been sent to Kelly Morgan of the Listing Group, UK 
Listing Authority in accordance with paragraph 9.8.2(1) of the UKLA Guidance 
Manual (June 2003 edition).

If you have any queries or require any further information regarding this 
request, please contact either:

Gina Hartnett of Clifford Chance (direct tel: 020 7006 4516, fax: 020 7006 5555 
or email: mailto:gina.hartnett@cliffordchance.com). or

Jimmy Giles of Paragon (direct tel: 0121 712 2315, fax: 0121 712 2622 
or email: mailto:jimmy.giles@paragon-group.co.uk), or

John Harvey of Paragon (direct tel: 0121 712 3894, mobile tel: 07974 980105, 
fax: 0121 712 2622 or email: mailto: john.harvey@paragon-group.co.uk

Signed for and behalf of:     PARAGON MORTGAGES (N0.4) PLC
 
By:
 
Name: John Gemmell Title: Director
 






     Schedule to fax by PARAGON MORTGAGES (N0.4) PLC to London Stock Exchange 
                                    and RNS

                Form of Notice of Cancellation of Listing

NOTICE OF CANCELLATION OF LISTING ON THE OFFICIAL LIST AND CANCELLATION OF 
ADMISSION TO TRADING ON THE LONDON STOCK EXCHANGE


PARAGON MORTGAGES (N0.4) PLC
(Registered in England and Wales under number 3696156) (the "issuer")

#457,500,000 Class A Mortgage Backed Floating Rate Notes Due 2032 
(the "class A Notes")

#42,500,000 Class B Mortgage Backed Floating Rate Notes Due 2044 
(the Class B Notes and together with the Class A Notes, the "notes")


NOTICE IS HEREBY GIVEN that:

(a) the Financial Services Authority in its capacity as United Kingdom Listing 
Authority (the "UKLA") and the London Stock Exchange plc (the "Exchange") have 
each been informed by the Issuer that the Issuer will fully redeem all of the 
outstanding Notes on 7 July 2005 (the "optional Redemption Date"), pursuant to 
Condition 5(d) of the Terms and Conditions of the Class A Notes and Condition 
5(d) of the Terms and Conditions of the Class B Notes;

(b) the UKLA will cancel the listing of the Notes on the Official List 
maintained by the UKLA with effect from the Optional Redemption Date; and

(c) the Exchange will cancel the admission of the Notes to trading on the 
Exchange with effect from the Optional Redemption Date.

Dated 


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END
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