AS13 Eqty Rel2'a1'27

    Equity Release Funding (No. 2) PLC

RE: EQUITY RELEASE FUNDING (NO. 2) PLC
GBP 45,000,000.00
MATURING: 26-May-2027
ISSUE DATE: 11-Jun-2002
ISIN: XS0147705775
                       
PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
28-Feb-2005 TO 26-May-2005 HAS BEEN FIXED AT 5.396250 PCT

DAY BASIS 87/365

INTEREST PAYABLE VALUE 26-May-2005 WILL AMOUNT TO:
GBP 10.730 PER GBP 860.40 DENOMINATION
GBP 107.30 PER GBP 8,604.00 DENOMINATION.
GBP 1,072.97 PER GBP 86,040.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881

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