65OG Argent.gf Zcn39

    Asset Backed Capital

                            RATE FIX NOTICE

Issue Name:                 Asset Backed Capital Ltd Series 1
                            US$ 92,000,000 Floating Rate
                            Senior Subordinated Notes Due 2007
ISIN Code:                  XS0074233148
Interest Rate:              1.750000%
Base Rate:                  1.300000%               
Interest Period:            28-May-04 to 31-Aug-04
Day Count Method:           Actual/360
Number of Days in Period:   95       
Payment Date:               31-Aug-04

Denomination:                Coupon:
------------------           ----------  -------------
        100,000.00           USD                461.81

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