Permanent Master Issuer


RE: PERMANENT MASTER ISSUER PLC
    USD 134,900,000.00
    MATURING: 15-Jul-2042
    ISSUE DATE: 17-Oct-2006
    ISIN: US71419GAD25

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
16-Apr-2007 TO 16-Jul-2007 HAS BEEN FIXED AT 5.475630 PCT

DAY BASIS 91/360

INTEREST PAYABLE VALUE 16-Jul-2007 WILL AMOUNT TO:
USD 1,867,174.62 PER USD 134,900,000.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855
FAX: 44 20 7508 3866
Email: rate.fixing@citigroup.com
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