65OG Argent.gf Zcn39

    Asset Backed Capital

                            RATE FIX NOTICE

Issue Name:                 Asset Backed Capital Ltd Series 1
                            US$ 92,000,000 Floating Rate
                            Senior Subordinated Notes Due 2007
ISIN Code:                  XS0074233148
Interest Rate:              2.231250%
Base Rate:                  1.781250%               
Interest Period:            31-Aug-04 to 29-Nov-04
Day Count Method:           Actual/360
Number of Days in Period:   90      
Payment Date:               29-Nov-04

Denomination:               Coupon:
------------------          ---------------------------
        100,000.00           USD                557.81

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