Municipality Finance plc


As Agent Bank, please be advised of the following rate determined on: 13-Dec-2007

Issue               : MUNICIPALITY FINANCE PLC plc - Series 15/2005
                      USD 30,000,000.00 Callable Notes due 16 Mar 2015
ISIN Number         : XS0213328106
Common Code/        : 21332810
144A ISIN
Issue Nomin     USD : 30,000,000.00
Period              : 17-Dec-2007 to 17-Mar-2008          Payment Date 17-Mar-2008
Number of Days      : 91
Rate                : 5.41063
Denomination USD :  1,000,000.00 30,000,000.0

Amount Payable
per Denomination    :13,676.87          410,306.11

Bank of New York
Rate Fix Desk                 Telephone 44 1202 689580
Institutional Trust Services  Facsimille 44 1202 689601
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