Notice of Early Redemption

RNS Number:1214L
Paragon Personal&Auto Fin.(No.2)PLC
15 April 2005

                           NOTICE OF EARLY REDEMPTION
                           --------------------------


Paragon Personal and Auto Finance (No. 2) PLC
(Registered in England and Wales under number 3696151)
(the "Issuer")

#146,900,000 Class A Asset Backed Floating Rate Notes Due 2022
#70,900,000 Class B Asset Backed Floating Rate Notes Due 2033
#26,900,000 Class C Asset Backed Floating Rate Notes Due 2033
(together the "Notes")

NOTICE IS HEREBY GIVEN that all of the outstanding Notes have been redeemed by
the Issuer today, 15 April 2005 (the "Redemption Date"), pursuant to Condition 5
(d) of the Terms and Conditions of the Notes. The Notes were redeemed at their
Principal Amount Outstanding together with accrued interest to the Redemption
Date.

An application has been made by the Issuer to the UK Listing Authority
requesting that the listing of the Notes be cancelled.

Enquiries:

John Gemmell, Company Secretary
0121 712 2075




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