AS13 Eqty Rel2'a1'27

    Equity Release Funding (No. 2) PLC

RE: EQUITY RELEASE FUNDING (No.2) PLC
GBP 45,000,000.00
MATURING: 26-May-2027
ISSUE DATE: 11-Jun-2002
ISIN: XS0147705775

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
27-Feb-2006 TO 26-May-2006 HAS BEEN FIXED AT 5.016250 PCT

DAY BASIS 88/365

INTEREST PAYABLE VALUE 26-May-2006 WILL AMOUNT TO:
GBP 8.93 PER GBP 738.10 DENOMINATION
GBP 89.27 PER GBP 7,381.10 DENOMINATION.
GBP 892.66 PER GBP 73,810.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881

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