REG-Principality Building Society FRN Variable Rate Fix

LONDON--(Business Wire)--

29 July 2008

Issue: Principality Building Society

8

XS0282668630

Pursuant to our appointment as Agent for the above stated issue, please be

advised of the following interest rate determination:

Date From: 28 July 2008

Date To: 27 October 2008

Value Date: 27 October 2008

Benchmark Rate: 5.79063%

Margin: 0.1%

Total Rate: 5.89063%

Number of Days: 91

Day Count: Actual / 365

Interest Frequency: Quarterly

Denomination: GBP 50,000.00

Amount per Denomination:

GBP 734.31

Total Amount Due:

GBP 146,862.28

Pool Factor: 1

Principality Building Society

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