36PU Elan Inst Nts40

    E.L.A.N. Ld

As Agent Bank, please be advised of the following rate determined on:08-Aug-2005

Issue               : E.L.A.N. Limited - Series 2002-04
                      EUR25,000,000 Secured FRN Due 10 Nov 2006
ISIN Number         : XS0142971893
Common Code/
144A ISIN           : 14297189
Issue Nomin     EUR : 25,000,000.00
Period              : 10-Aug-2005 to 10-Nov-2005      Payment Date 10-Nov-2005
Number of Days      : 92
Rate                : 2.483
Denomination    EU  : 10,000.00
Amount Payable 
per Denomination    : 63.45

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

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