Permanent Master Issuer PLC



Re:  PERMANENT MASTER ISSUER PLC
     USD 1350000000
     MATURING: 15-Oct-2033
     ISIN: US71419GAL41

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
15-Oct-2008 TO 15-Jan-2009 HAS BEEN FIXED AT 4.832500 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 15-Jan-2009 WILL AMOUNT TO:
USD 16672125 PER USD 1350000000 DENOMINATION
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