Southern Pacific Securities 04-2 plc

As Agent Bank, please be advised of the following rate determined on:12-Jun-2006

Issue               : Southern Pacific Securities 04-2 plc - Class E
                      GBP 7,000,000 Mortgage Backed FRN due 10 Dec 2042
ISIN Number         : XS0196618499
Common Code/
144A ISIN           : 19661849
Issue Nomin     GBP : 7,000,000.00
Period              : 12-Jun-2006 to 11-Sep-2006      Payment Date 11-Sep-2006
Number of Days      : 91
Rate                : 7.97
Denomination    GB  : 10,000.00

Amount Payable      : 198.70
per Denomination

Rate Fix Desk                     Telephone   44(0) 1202 34 1286
Institutional Trust Services      Facsimile   44(0) 1202 34 1267

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Sthn.pac.42 Es (LSE:52MJ)
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