PREFERRED RESIDENTIAL SECURITIES 7 PLC

As Agent Bank, please be advised of the following rate determined on:15-Sep-2006

Issue               : Preferred Residential Securities 7 PLC - Class C 
                      GBP 37,500,000 Mortgage Backed FRN due 15 Dec 2041
ISIN Number         : XS0183102283
Common Code/
144A ISIN           : 18310228
Issue Nomin     GBP : 37,500,000.00
Period              : 15-Sep-2006 to 15-Dec-2006     Payment Date 15-Dec-2006
Number of Days      : 91
Rate                : 8.535  Pool Factor: 0.808969
Denomination    GBP : 8,089.69
Amount Payable 
per Denomination    : 172.14

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 1267

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