Avebury Properties Ld

As Agent Bank, please be advised of the following rate determined on: 18-Feb-2004

Issue               : Avebury Properties Limited - Class A1
                      GB 43,000,000 Secured FRN due February 2011
ISIN Number      : XS0108393272
Issue Nomin     GBP : 43,000,000.00
Period              : 20-Feb-2004 to 20-May-2004        Payment Date 20-May-2004
Number of Days      : 90
Rate                : 5.30953           Pool Factor: 0.7774658
Denomination   GB   : 38,873.29   

Amount Payable 
per Denomination    : 507.53

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

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