CITY MORTGAGE RECEIVABLES 1 PLC

As Agent Bank, please be advised of the following rate determined on:18-Apr-2006

Issue               : City Mortgage Receivables 1 Plc 
                      ๏ฟฝ32,010,000 Mortgage-Backed FRN Due 2023
ISIN Number         : XS0062055693
Common Code/        : 62055693
144A ISIN
Issue Nomin     GBP : 32,010,000.00
Period              : 18-Apr-2006 to 15-May-2006     Payment Date 15-May-2006
Number of Days      : 27
Rate                : 4.89719                    Pool Factor:    0.05109628
Denomination    GB  : 1,635,591.97                                   

Amount Payable 
per Denomination    : 5,925.06                                    

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

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