FRN Variable Rate Fix

LONDON--(BUSINESS WIRE)--

09 February 2010

Issue: Principality Building Society

Series 2

XS0219199188

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

advised of the following interest rate determination:

Date From: 11 February 2010

Date To: 11 May 2010

Value Date: 11 May 2010

Benchmark Rate: 0.661%

Margin: 0.19%

Total Rate: 0.851%

Number of Days: 89

Day Count: Actual / 360

Interest Frequency: Quarterly

Denomination: EUR 100,000.00

Amount per Denomination:

EUR 210.39

Total Amount Due:

EUR 42,078.00

Pool Factor: 1