Abbey National PLC

As Agent Bank, please be advised of the following rate determined on: 23-Dec-2003

Issue               : Abbey National Plc 
                      EUR 500,000,000 FRN Due 28 June 2012
ISIN Number         : XS0150394426
Issue Nomin     EUR : 500,000,000.00
Period              : 29-Dec-2003 to 29-March-2004          Payment Date 29-March-2004
Number of Days      : 91
Rate                : 2.592
Denomination    EUR : 1,000.00     

Amount Payable 
per Denomination    : 6.55         

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