Supplemental Deed

ALBA 2005-1 PLC
(the "Issuer")

NOTICE TO NOTEHOLDERS AND INSTRUMENTHOLDERS

Execution of Supplemental Deed

£66,250,000 class A1 mortgage backed floating rate notes due 2042 (ISIN: XS0235710646);

£84,000,000 class A2 mortgage backed floating rates notes due 2042 (ISIN: XS0235711537);

£105,000,000 class A3 mortgage backed floating rate notes due 2042 (ISIN: XS0235712006);

£21,650,000 class B mortgage backed floating rate notes due 2042 (ISIN: XS0235713152);

£13,250,000 class C mortgage backed floating rate notes due 2042 (ISIN: XS0235713822);

£6,800,000 class D mortgage backed floating rate notes due 2042 (ISIN: XS0235715363);

£4,050,000 class E mortgage backed floating rate notes due 2042 (ISIN: XS0235715793);

MERCs due 2042 (ISIN: XS0235728697);

£1,957,000 subordinated notes due 2042 (ISIN: XS0235726055); and

R Certificates due 2042 (ISIN: XS0235735478), (together, the "Notes").

Unless the context otherwise requires, capitalised terms used but not defined in this notice shall have the meanings given in the prospectus dated 22 November 2005 in relation to the Notes issued by the Issuer.

The Issuer hereby gives notice that it has entered into a supplemental deed dated 7 June 2016 with Oakwood Homeloans Limited as Seller, The Bank of New York Mellon, London Branch as Trustee and Cash Manager/Master Servicer and Danske Bank A/S, London Branch as Account Bank which modifies certain obligations of the Seller, Cash Manager/Master Servicer and Issuer in the Mortgage Sale Agreements, Cash Management, Master Servicing and Account Bank Agreement and the Collection Accounts Declaration of Trust.

The modifications were requested by the Issuer in order to assist the Seller to sweep funds to the Issuer Transaction Account at Danske Bank on a largely automated basis, in order to reduce the operational and credit risk that a solely manual procedure may entail.

Issued by the Directors of Alba 2005-1 Plc

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange