Application of Discount Percentage (5652S)

TIDM81CL

RNS Number : 5652S

Chester Asset Recs Deals 2004-1 PLC

22 November 2011

Chester Asset Receivables Dealings 2004-1 Plc

(Company No. 05018927)

Registered Address

c/o Wilmington Trust, SP Services (London) Limited

Fifth Floor 6 Broad Street Place

London

EC2M 7JH

Relevant Series:

Series UK2004-1 GBP440,000,000 Class A Asset Backed Floating Rate Notes scheduled to be redeemed in 2014

Series UK2004-1 GBP25,000,000 Class B Asset Backed Floating Rate Notes scheduled to be redeemed in 2014

Series UK2004-1 GBP35,000,000 Class C Asset Backed Floating Rate Notes scheduled to be redeemed in 2014

Notification of Application of Discount Percentage

Date: 22 November 2011

We have become aware that MBNA Europe Bank Limited as Transferor has nominated a Discount Percentage to apply to Principal Receivables assigned to the Receivables Trustee (and including) 1 November 2011 to (and including) 31 March 2012. The nominated Discount Percentage is 5% reduced by 1% per Monthly Period commencing on the Monthly Period starting on 1 December 2011. MBNA Europe Bank Limited has informed us that the nomination of the Discount Percentage supersedes any previous discount percentages nominated in respect of such period. The assignment at a discount is expected to increase finance charge collections in UK Receivables Trust II and thereby increase the amount of yield available to existing issuances under UK Receivables Trust II.

The Servicer has informed us that details of the Discount Percentage applicable to the assignment of Principal Receivables and to Principal Collections for any given Monthly Period can be obtained from the relevant Monthly Servicer's Report.

For further information, please contact: The Directors Tel: [phone]

This information is provided by RNS

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