Southern Pacific Securities 04-2 plc




As Agent Bank, please be advised of the following rate determined on: 11-Jun-2007

Issue               : Southern Pacific Securities 04-2 plc - A2c
                      GBP 235,200,000.00  FRN Due 10-Dec-2042
ISIN Number         : XS0196612963
Common Code/        : US84359VAF94
144A ISIN
Issue Nomin     GBP : 235,200,000.00
Period              : 11-Jun-2007 to 10-Sep-2007          Payment Date 10-Sep-2007
Number of Days      : 91
Rate                : 6.07063                     Pool Factor:    0.474147
Denomination GBP    : 4,741.47

Amount Payable
per Denomination    : 71.76

JPMorgan Chase Bank
Rate Fix Desk                           Telephone 44 1202 689580
Institutional Trust Services  Facsimille          44 1202 689601



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