As Agent Bank, please be advised of the following rate determined            on: 11-Dec-2008
 Issue                             � Sherwood Castle Funding 2004-1 plc - Class C
                                   EUR 57,000,000.00 Asset Backed FRN Due 2014
 ISIN Number                       � XS0186637160
 Common Code / 144A ISIN           �
 Issue Nomin EUR                   � 57,000,000.00
 Period                            � 15-Dec-2008 to 16-Mar-2009              Payment Date 16-Mar-2009
 Number of Days                    � 91
 Rate                              � 4.529
 Denomination EUR                  � 500,000.00            �                                    �
                                                                                                     
 Amount Payable per Denomination   � 5,724.15              �                                    �
                                                                                                     
 Bank of New York
 Rate Fix Desk                                             Telephone         � 44 1202 689580
 Corporate Trust Services                                  Facsimile         � 44 1202 689601
    
    


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