Avebury Properties Ltd

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

Issue               : Avebury Properties Limited - Class A1
                      GB�43,000,000 Secured FRN due February 2011
ISIN Number         : XS0108393272
Common Code/
144A ISIN           : 108393272
Issue Nomin     GBP : 43,000,000.00
Period              : 20-May-2006 to 21-Aug-2006   Payment Date 21-Aug-2006
Number of Days      : 93
Rate                : 5.86              Pool Factor: 0.35113627
Denomination    GB  : 17,556.81
Amount Payable 
per Denomination    : 262.14

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

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