Southern Pacific Securities 04-2 plc


As Agent Bank, please be advised of the following rate determined on: 10-Jun-2008
Issue               : Southern Pacific Securities 04-2 plc - Class D1c
                      GBP 19,400,000 Mortgage Backed FRN due 10 Dec 2042
ISIN Number         : XS0196618069
Common Code/        : US84359VAQ59
144A ISIN
Issue Nomin     GBP : 19,400,000.00
Period              : 10-Jun-2008 to 10-Sep-2008       Payment Date 10-Sep-2008
Number of Days      : 92
Rate                : 7.55
Denomination    GB  : 10,000.00

Amount Payable
per Denomination    : 1,897.81

Bank of New York
Rate Fix Desk                           Telephone  44 1202 689580
Institutional Trust Services            Facsimille 44 1202 689601
Sthn.pac.42d1cs (LSE:52MI)
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