Everybody

Further to the sell-down of Sutton Bridge it looks like the originators are
planning, as part of that deal to assign infinity deal number 25556, a
currency swap we have with Sutton Bridge to EDF/London Electricity. The
hedge for this deal is a back to back deal with Natwest, infinity deal number
25555.

My questions are:
When this swap was originally entered into there would have been a credit
reserve taken for it, which will have to be released. How much is this and
what is the process? I am assuming this release of credit will not effect my
traders P&L. Can you please confirm this.

What else do we need to look at to complete this assignment? What are the
legal implications?

The originator is looking to do this fairly quickly and so a quick response
would be greatly appreciated.

Thanks
Trena