Common use of PURCHASES AND CANCELLATIONS Clause in Contracts

PURCHASES AND CANCELLATIONS. The following exchanges for Definitive First Issuer Notes and purchases and cancellations of a part of this Global First Issuer Note have been made: Date made Part of principal amount exchanged for Definitive First Issuer Notes Part of principal amount purchased and cancelled Aggregate principal amount following such exchange, purchase or cancellation Notation made on behalf of the First Issuer US$ US$ US$ PART A (2) SERIES 1 CLASS A GLOBAL FIRST ISSUER NOTE NOTE NO. 2 PERMANENT FINANCING (NO. 1) PLC (Incorporated with limited liability in England with registered number 4416192)

PURCHASES AND CANCELLATIONS. The following exchanges for Definitive First Issuer Notes and purchases and cancellations of a part of this Global First Issuer Note have been made: Date made Part of principal amount exchanged for Definitive First Issuer Notes Part of principal amount purchased and cancelled Aggregate principal amount following such exchange, purchase or cancellation Notation made on behalf of the First Issuer US$ US$ US$ PART A G (23) SERIES 1 3 CLASS A GLOBAL FIRST ISSUER NOTE NOTE NO. 2 3 PERMANENT FINANCING (NO. 1) PLC (Incorporated with limited liability in England with registered number 4416192)