Permanent Master Issuer plc



Re:  PERMANENT MASTER ISSUER PLC
     GBP 785700000
     MATURING: 15-Jul-2042
     ISIN: XS0359634721

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
15-Jul-2008 TO 15-Oct-2008 HAS BEEN FIXED AT 5.939380 PCT

DAY BASIS: ACTUAL/365(PROP)

INTEREST PAYABLE VALUE 15-Oct-2008 WILL AMOUNT TO:
GBP 5359658.16 PER GBP 358995691.9 DENOMINATION
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