Platform Home Loans (No.2) Plc

As Agent Bank, please be advised of the following rate determined on: 11-Dec-2003

Issue               : Platform Home Loans No2 plc - Class M
                      � 14,500,000 Mortgage backed FRN due December 2032
ISIN Number         : XS0118479434
Issue Nomin     GBP : 14,500,000.00
Period              : 11-Dec-2003 to 11-Mar-2004          Payment Date 11-Mar-2004
Number of Days      : 91
Rate                : 5.31625      
Denomination   GBP  : 10,000.00     100,000.00

Amount Payable 
per Denomination    : 132.27        1,322.64

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 7438