As Agent Bank, please be advised of the following rate determined            on: 12-Dec-2008
 Issue                             � Series 2007-1E Swan Trust - Class A4
                                   GBP 125,000,000.00 Mortgage Backed FRN Due Jun-2038
 ISIN Number                       � XS0302449078
 Common Code / 144A ISIN           �
 Issue Nomin GBP                   � 125,000,000.00
 Period                            � 12-Dec-2008 to 12-Mar-2009              Payment Date 12-Mar-2009
 Number of Days                    � 90
 Rate                              � 3.26563                     Pool Factor: 0.642395996
 Denomination GBP                  � 100,000.00            �                                    �
                                                                                                     
 Amount Payable per Denomination   � 517.27                �                                    �
                                                                                                     
 Bank of New York
 Rate Fix Desk                                             Telephone         � 44 1202 689580
 Corporate Trust Services                                  Facsimile         � 44 1202 689601
    
    
    


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