Pillar Funding



As Agent Bank, please be advised of the following rate determined on: 13-Feb-2008
Issue              � Pillar Funding Series 2005 - Class A
                     EUR 319,000,000.00 Asset Backed FRN Due 15 Nov 2012
ISIN Number        � XS0236180286
Common Code / 144A � 23618028
 ISIN
Issue Nomin EUR    � 319,000,000.00
Period             � 15-Feb-2008 to 15-May-2008            Payment Date 15-May-2008
Number of Days     � 90
Rate               � 4.45
Denomination EUR   � 50,000.00             �                      �

Amount Payable per � 556.25                �                      �
 Denomination

Bank of New York
Rate Fix Desk                              Telephone       � 44 1202 689580
Corporate Trust Services                   Facsimile       � 44 1202 689601



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