Paragon Mortages (No.10) plc
                  

RE: Paragon Finance No10 Plc
    EUR 222,000,000.00
    MATURING: 15-Jun-2041
    ISSUE DATE: 17-Nov-2005
    ISIN: XS0235419800

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
15-Jun-2006 TO 15-Sep-2006 HAS BEEN FIXED AT 3.119000 PCT

DAY BASIS 92/360

INTEREST PAYABLE VALUE 15-Sep-2006 WILL AMOUNT TO:
EUR 398.54 PER EUR 50,000.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881