Document:

DATED: 23 MAY 2006

                          BEDELL TRUST COMPANY LIMITED

                                       AND

                           TURQUOISE FUNDING 1 LIMITED

                                       AND

                                  HSBC BANK PLC

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                          CORPORATE SERVICES AGREEMENT

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                                 Bedell Cristin
                                  26 New Street
                                   St. Helier
                                     Jersey
                                 Channel Islands
                             SMH/ALC/SAT/094585/0024
                                     1321431

                                                       8

THIS AGREEMENT is made on twenty third May two thousand and six.

BETWEEN:

(1)     BEDELL TRUST COMPANY LIMITED a company incorporated in Jersey whose
        registered office is situate at 26 New Street, St. Helier, Jersey,
        Channel Islands (the "Service Provider"); and

(2)     TURQUOISE FUNDING 1 LIMITED a company incorporated in Jersey whose
        registered office is situate at 26 New Street, St. Helier, Jersey,
        Channel Islands as aforesaid (the "Company"); and

(3)     HSBC BANK PLC whose registered office is at Level 4, 8 Canada Square,
        London, E14 5HQ (the "Originator").

RECITALS:-

(A)     The Company was incorporated in Jersey on 27 January, 2006 for the
        purpose of participating in a financing programme relating to certain
        credit card receivables originated or to be originated by HSBC Bank plc.

(B)     The Company requires corporate administration services to be provided to
        it in Jersey and the Service Provider is willing to provide or arrange
        the provision of such services as specified in the Schedule hereto on
        the terms hereinafter set out.

NOW BY THIS AGREEMENT:

DEFINITIONS

1.      (a)     "Delegate" shall mean and include the Partnerships together with
                any or all of the respective officers, employees, servants,
                successors, assigns or duly appointed agents of each of the
                Service Provider and the Partnerships.

        (b)     "Island" shall mean the Island of Jersey, Channel Islands.

        (c)     "MLO" shall mean the Money Laundering (Jersey) Order 1999 and
                any other applicable regulations from time to time relating to
                prevention of use of the financial system for the purpose of
                money laundering and made pursuant to the Proceeds of Crime
                (Jersey) Law 1999.

        (d)     "the Partnerships" shall mean the partners for the time being of
                (i) Bedell Cristin, Jersey Advocates and (ii) the Bedell Group
                Partnership ("Bedell Group").

        (e)     "Services" shall mean the services to be provided by the Service
                Provider pursuant to this Agreement as set out in the Schedule
                hereto.

        (f)     "Transaction" means the securitisation programme for the
                purposes of which the Company was established.

        (g)     "Transaction Documents" means such agreements or other documents
                to which the Company shall be party from time to time in
                connection with the Transaction.

                Unless otherwise defined herein, terms and expressions defined
                in the Transaction Documents shall bear the same meaning when
                used in this Agreement.

                                       1

APPOINTMENT

2.1     The Company hereby appoints the Service Provider to provide or procure
        the provision of the Services and the Service Provider agrees to provide
        or procure the provision of the Services to the Company.

2.2     The Originator acknowledges and agrees to such appointment upon the
        terms of this Agreement. The Originator shall not acquire any rights or
        incur any liabilities hereunder except as expressly stated herein.

2.3     The obligations of the Service Provider under this Agreement are solely
        the obligations of the Service Provider. No recourse shall be had in
        respect of any obligation or claim arising out of or based upon this
        Agreement or any relevant Transaction Document against any employee,
        officer, director, nominee or Delegate of the Service Provider save
        where the claim, demand, liability, cost or expense in connection
        therewith arises from the fraud, bad faith, wilful misconduct or gross
        negligence of such employee, officer, director, nominee or Delegate of
        the Service Provider.

SCOPE OF AUTHORITY

3.      The Service Provider agrees with the Company and the Originator that in
        providing the Services it will comply with any proper instructions,
        directions or orders communicated in writing or by facsimile which may
        from time to time be given to the Service Provider by the Company or any
        director of the Company PROVIDED ALWAYS THAT in cases approved in
        advance by the Company the Service Provider may also act on oral
        instructions given by any director of the Company. The Service Provider
        shall be fully protected when acting upon proper instructions without
        any duty to make enquiry as to the genuineness or authenticity of
        instructions.

DELEGATION

4.      In the performance of the Services the Service Provider may engage at
        its own expense any Delegate to carry out any or all of its duties
        hereunder as it thinks fit without requiring any prior authorisation.
        The Service Provider shall not be responsible for any misconduct or
        negligence on the part of any person appointed by it with due care to
        provide any of the Services.

LIMITATION OF DUTIES

5.1     Notwithstanding the Services agreed to be provided by the Service
        Provider hereunder, nothing in this Agreement shall require the Service
        Provider or any Delegate to act in any manner which they consider or any
        one of them considers may:-

        (a)     conflict with any of the provisions of the Company's Memorandum
                and Articles of Association;

        (b)     conflict with any laws or regulations in force in the Island or
                the terms of any permits consents, licences or applicable Codes
                of Practice issued thereunder by any competent authority in the
                Island and binding on or having effect in relation to the
                Company or the Service Provider; and/or

        (c)     expose the Service Provider or any Delegate to any risk of civil
                or criminal liability or prosecution in any jurisdiction.

5.2      The Company agrees and acknowledges:

        (a)     that it will be responsible for compliance with MLO in the
                conduct of its business where applicable; and

        (b)     that, for the purposes of MLO:

                                       2

                (i)     the Service Provider will retain any client
                        identification verification records provided to it by
                        the Company from time to time with the corporate records
                        of the Company;

                (ii)    the employee or agent of the Bedell Group for the time
                        being discharging the functions of the money laundering
                        reporting officer for the Service Provider will be the
                        person to whom any relevant report should be made by any
                        Delegate handling relevant financial services business
                        for the Company and the procedures adopted in that
                        connection shall be those from time to time prescribed
                        by the Bedell Group or Service Provider; and

                (iii)   MLO employee training procedures in respect of Delegates
                        shall be those procedures adopted in that connection
                        from time to time by the Bedell Group or Service
                        Provider.

        (c)     that, during the continuance of this Agreement, the Company
                and/or the Originator shall:

                (i)     provide the Service Provider with all such information,
                        documentation and records as the Service Provider may
                        reasonably require to enable it to perform its duties
                        hereunder;

                (ii)    keep the Service Provider fully informed as to any
                        change in the business, affairs, financial position and
                        prospects of the Company which is or is likely to be
                        material to the Service Provider; and

                (iii)   neither cause nor permit anything to be done which will
                        or may be calculated to impose any civil or criminal
                        liability or penalty on the Service Provider or any
                        Delegate.

EXPERTISE

6.      The Service Provider is not an expert in, nor does it hold itself or the
        Partnerships out as being experts in or having any knowledge of, the law
        of any jurisdiction other than the laws of the Island and each of the
        Company and the Originator hereby acknowledges that the Company has not
        received nor will it receive any advice from the Service Provider or the
        Partnerships on any matter affecting the Company, other than in respect
        of laws or regulations in force in the Island.

REMUNERATION

7.      The Company hereby acknowledges and agrees that the Service Provider (or
        either of the Partnerships on behalf of the Service Provider) will
        charge the Company fees, and authorises the Service Provider (or either
        of the Partnerships on its behalf) to obtain reimbursement from the
        Company of all disbursements reasonably incurred in connection with the
        provision of the Services, in each case as set out in a letter agreement
        of even date herewith between inter alios, the Service Provider, the
        Company and the Originator. The amount of such fees may be adjusted from
        time to time in accordance with any revised scale of charges generally
        applicable to the provision of services similar to the Services as the
        Service Provider may from time to time notify to the Company and the
        Originator at least one calendar month prior to such increased charges
        taking effect. For the avoidance of doubt it is hereby agreed that the
        Service Provider shall not be bound to make disbursement of expenses on
        behalf of the Company and may require to be put in funds to meet any
        such expenses as it may determine. Such fees shall be paid and expenses
        reimbursed by the Originator within thirty days of receipt of the
        Service Provider's invoice unless previously paid and reimbursed by the
        Company.

                                       3

NON-PAYMENT OF FEES

8.      The Company acknowledges that if any fees and disbursements payable
        hereunder shall remain outstanding for more than thirty days after
        notification of the amount of such fees and disbursements has been sent
        to the Company (or its agent responsible for processing payment thereof)
        neither the Service Provider nor any Delegate shall be required to
        perform any further Services for the Company including, for the
        avoidance of any doubt, filing the annual return of shareholders or
        filing the Jersey Exempt Company Tax Return for the Company until all
        such fees and disbursements have been paid in full. Without prejudice to
        the generality of the foregoing, the Service Provider shall not be
        required to expend or risk its own funds or otherwise incur financial
        liability in the performance of any of the Services or in the exercise
        of any of its rights or powers hereunder if there are grounds for
        believing that the reimbursement of such expenditure or indemnity
        satisfactory to it against such risk or liability is not assured to it.

NON-PETITION UNDERTAKING

9.      The Service Provider hereby agrees that it shall not prior to the date
        which is two years and one day after the discharge in full of all
        obligations of the Company under the Transaction Documents take any
        corporate action or other legal steps or legal proceedings for the
        bankruptcy, winding up, dissolution, re-organisation, appointment of a
        receiver, administrator, administrative receiver, liquidator,
        sequestrator or similar officer of the Company or of any or all of the
        revenues and assets of the Company nor participate in any proceedings
        nor seek to enforce any judgment against the Company except in
        accordance with the provisions of the Transaction Documents.

CONFIDENTIALITY

10.     (1)     If at any time during the term of this Agreement the Service
                Provider or any Delegate may have or be deemed to have
                information about any transaction or matter affecting the
                Company neither the Service Provider nor any such Delegate shall
                be under any duty to disclose any such information to the
                Company if the Service Provider or such Delegate shall have
                obtained such information in the course of acting for any other
                clients or in any way other than in the provision of the
                Services under this Agreement.

        (2)     The Service Provider shall keep confidential and shall procure
                that its Delegates shall keep confidential all information
                concerning the Company and all transactions or matters dealt
                with by the Transaction Documents unless; (a) the Service
                Provider or any Delegate is required to disclose the same under
                the Transaction Documents or under the laws of the Island or
                pursuant to the order of any Jersey court or other court or
                regulatory authority having jurisdiction in any such transaction
                or matter; or (b) the Service Provider requires to disclose the
                same to its professional advisers who receive the same under a
                duty of confidentiality, or (c) the relevant information is
                already in the public domain otherwise than as a result of a
                breach of this provision.

CONFLICTS OF INTEREST

11.     (1)     The services of the Service Provider to the Company hereunder
                are not to be deemed exclusive and the Service Provider shall be
                free to render similar services to any other person for so long
                as its services hereunder are not impaired thereby and shall not
                be liable to account for any profits arising therefrom.

        (2)     The Company hereby acknowledges that the Service Provider is
                ultimately owned by the Bedell Group (which has some partners in
                common with Bedell Cristin) and agrees that the Service Provider
                provides the Services in the full knowledge that either of the
                Partnerships may have acted (or may hereafter act) for the
                Company or an arranger of the Transaction contemplated by the
                Transaction Documents.

                                       4

TERMINATION

12.     (1)     This Agreement and the Services to be performed hereunder may be
                terminated:-

                (a)     on one month's notice in writing given by the Service
                        Provider to the Company; or

                (b)     on one month's notice in writing given by the Company to
                        the Service Provider.

        (2)     This Agreement shall be terminated immediately on written notice
                from the Service Provider to the Company if the Service Provider
                shall consider any of the following events to have occurred:-

                (a)     the Company becomes insolvent or is declared en desastre
                        (bankrupt) or is subject to a creditors' (insolvent)
                        winding-up in Jersey or is subject to any analogous
                        procedure in any other jurisdiction;

                (b)     the Company and/or the Originator commits any breach of
                        the terms of this Agreement which is incapable of remedy
                        or commits any other breach which is capable of remedy
                        but fails to remedy such breach after the Service
                        Provider has given at least thirty days' notice in
                        writing to the Company and the Originator requiring such
                        breach to be remedied; and/or

                (c)     any changes are made to the terms of any of the
                        Transaction Documents which affect the duties and
                        obligations of the Company thereunder and which changes
                        are expected to have a material adverse affect on the
                        Service Provider or the Partnerships unless any such
                        change has been previously approved by the Service
                        Provider.

        (3)     Upon the termination of this Agreement howsoever occurring, the
                Service Provider shall be entitled to resign, or procure the
                resignation of any Delegate, from each office and position held
                in relation to the Company including without prejudice to the
                generality of the foregoing the resignation of the secretary and
                the directors provided by the Service Provider and the Company
                shall forthwith notify the Service Provider of:-

                (a)     an address to be the new registered office of the
                        Company in Jersey in substitution for the Service
                        Provider's address;

                (b)     an address to which all the books and records of the
                        Company may be transferred provided always that the
                        Service Provider on behalf of the Partnerships shall
                        have a lien on all such books, records and documents of
                        the Company until all fees and disbursements up to the
                        date of termination of the Agreement have been paid; and

                (c)     the names of at least two persons into whose names the
                        shares in the Company shall be transferred.

        (4)     Upon the termination of this Agreement howsoever occurring, the
                Service Provider and the Bedell Group shall use their best
                endeavours to assist in the orderly transfer of the
                administration of the Company and shall be entitled to charge
                and be paid fees to the date of termination and at their
                respective normal rates in force at that time for any work done
                in transferring the administration of the Company. The
                termination of this Agreement shall be without prejudice to any
                antecedent liability of the parties hereto.

                                       5

LIABILITY AND INDEMNITY

13.     (1)     The Service Provider and any Delegate shall use their respective
                best endeavours and exercise due care in performing the Services
                but neither the Service Provider nor any Delegate shall, in the
                absence of any fraud, bad faith, wilful misconduct or gross
                negligence on the part of the Service Provider or any Delegate,
                be liable to the Company or any other person for any loss or
                damage suffered arising out of the performance or non
                performance by the Service Provider or any Delegate of the
                Services.

        (2)     The Company and the Originator jointly and severally undertake
                (in the case of the Company to the extent permitted under its
                constitution) to indemnify and hold harmless the Service
                Provider and all Delegates (and officers of the Company, if not
                Delegates) against all actions, proceedings, accounts, claims or
                demands and any costs and expenses reasonably incurred in
                connection therewith which may be brought or made or threatened
                to be brought or made against the Service Provider or any
                Delegate (or officer of the Company, if not a Delegate) in
                connection with the affairs of the Company including without
                prejudice to the generality of the foregoing in connection with
                the Services provided by the Service Provider or any Delegate
                (or officer of the Company, if not a Delegate) hereunder
                provided that no person seeking indemnity hereunder in respect
                of such a liability shall be so entitled to the extent that any
                such liability shall have arisen solely from his or its fraud,
                bad faith, wilful misconduct or gross negligence. Expenses
                incurred in defending any action, suit or proceeding by a person
                who may be entitled to indemnity under the above provisions
                shall be paid by the Company in advance of the final disposition
                of such action, suit or proceeding upon receipt of an
                undertaking by or on behalf of the person to whom payment is to
                be made that he will repay the amounts advanced if it shall
                ultimately be determined that he is not entitled to be
                indemnified by the Company in accordance with the above
                provisions. This indemnity shall continue in force
                notwithstanding the termination of this Agreement and shall
                continue as to a person who has ceased to be a director,
                officer, agent or other Delegate and shall inure to the benefit
                of the heirs, executors and administrators of such a person. To
                the extent necessary to give effect to the intention of the
                parties, the parties agree that the Service Provider shall hold
                the benefit of these indemnities in trust for such Delegates or
                other such persons not party to this Agreement.

        (3)     Without prejudice to the generality of the foregoing the
                Originator hereby waives any future claims (whether in contract,
                tort or otherwise) which may otherwise arise against any
                Delegate arising out of or as a result of such Delegate holding
                office as a director of the Company save to the extent that such
                claim shall have arisen solely from the fraud, bad faith, wilful
                misconduct or gross negligence on the part of the Delegate who
                is sought to be made liable.

DOCUMENT RETENTION

14.     After termination of this Agreement, the Service Provider is entitled to
        retain all papers and documents which have come into existence in the
        course of it providing the Services until all fees and disbursements due
        to it have been settled in full. Subject to payment in full of all fees
        and disbursements, the Service Provider will where a successor
        administrator has been appointed liaise with that administrator to
        provide all such original or copy documents as may be reasonably
        required by the successor administrator and will retain copies of
        documents at its discretion. The Service Provider reserves the right to
        require payment for its reasonable copying charges in advance of
        providing such documents. Thereafter, the Service Provider will keep all
        documents, correspondence, memoranda and notes which have been created
        in the course of provision of the Services, for ten years. During this
        period the Service Provider reserves the right, but has no obligation,
        to make electronic copies of any such documents, correspondence,
        memoranda and notes and, save for original signed documents, reserves
        the right to destroy hard copies and store the remainder of the filing
        electronically. After ten years continued retention (whether in
        electronic form or otherwise) files of papers and documents (other than

                                       6

        originals) are subject to the Service Provider's right to destroy all
        such files at such time as it considers appropriate and unless it has
        been instructed to the contrary at or prior to the termination of
        provision of the Services. When the Service Provider is instructed to
        retain files beyond the ten year period, it reserves the right to charge
        for doing so. If after the termination of provision of the Services the
        Service Provider receives from any person entitled to do so a specific
        request for information concerning a matter in relation to the provision
        of the Services and/or a request to retrieve specific documents and
        other papers, the Service Provider reserves the right to charge for such
        services.

NOTICES

15.     Any notice to be given by any party to this Agreement to any other
        should be sent by post or by fax (at the sender's option) to the
        recipient at its address or fax number set out under its signature below
        (or at such other address or fax number as shall have been notified in
        writing for such purpose by the recipient). Any such notice shall be
        deemed to have been served (if posted) three business days after posting
        or (if sent by fax) on production by the sender's fax machine of a
        confirmation of transmission in full.

VARIATION

16.     Any amendment, variation or waiver of the terms of this Agreement shall
        be made in writing and shall be signed by or on behalf of each of the
        parties hereto.

COUNTERPARTS

17.     This Agreement may be executed in any number of counterparts, and by the
        different parties hereto on the same or separate counterparts, each of
        which shall be deemed to be an original and all of which when taken
        together shall constitute one and the same agreement.

ASSIGNMENT

18.     The Service Provider shall not be entitled to assign all or any of its
        rights or benefits or to transfer any of its obligations hereunder
        provided that the Service Provider shall be entitled to delegate the
        performance of the Services pursuant to Clause 4.

GOVERNING LAW

19.     This Agreement shall be governed by and construed in accordance with the
        laws of Jersey and the parties submit to the non exclusive jurisdiction
        of the courts of Jersey in all matters arising out of or in connection
        with this Agreement.

IN WITNESS WHEREOF the parties hereto have entered into this Agreement on the
date first above written.

                                       7

THE SCHEDULE

Services to be provided by the Service Provider are as follows:-

(1)     perform all general company secretarial, registrar and company
        administration services for the Company (other than such services as
        shall be rendered to the Company pursuant to the Transaction Documents),
        including the provision of at least two directors and a secretary of the
        Company;

(2)     as and when requested by any director or the auditors, provide the
        directors or the auditors (as the case may be) with such information in
        connection with the Company as may be in the possession of the Service
        Provider or as may be reasonably obtained by it;

(3)     keep duplicate copy accounts of the Company provided by the directors
        (provided always that except where the Service Provider provides all the
        directors of the Company, the Service Provider shall have no
        responsibility for verifying the accuracy thereof and shall rely upon
        the information provided by the directors) and such books and records as
        are required by any applicable law or otherwise for the proper conduct
        of the affairs of the Company and, upon instructions from the directors,
        prepare for forwarding to members of the Company all statements and
        notices which the board is required to issue, send or serve in
        accordance with the Articles of Association of the Company;

(4)     give any necessary directions and information as instructed by the
        directors to any agents appointed by the directors pursuant to the
        Articles of Association of the Company;

(5)     provide an adequate staff and other facilities in the Island (including
        the provision of the Company's registered office, telephone and
        facsimile transmission facilities) for efficiently performing its
        functions as Service Provider and carrying on its duties hereunder
        (provided that neither the Company nor its directors shall be entitled
        to the exclusive use of such accommodation);

(6)     keep the common seal of the Company and the register of shareholders,
        issue share certificates, effect transfers and file timeously (insofar
        as the directors have duly approved, signed and delivered the same and
        monies in respect of applicable fees are made available by or on behalf
        of the Company) the Annual Return of shareholders, annual applications
        for exempt company status and any other applicable statutory returns and
        exempt company tax filings in the Island;

(7)     arrange for the convening of shareholders' and directors' meetings of
        the Company as and when required, provide facilities for holding such
        meetings in the Island and prepare and keep minutes of such meetings;

(8)     accept service of process and any other documents or notices to be
        served on the Company in the Island; and

(9)     provide such other corporate administration services as may be required
        by the Company from time to time and agreed by the Service Provider.

                                       8

SIGNED by                                   )
for and on behalf of BEDELL                 )
TRUST COMPANY LIMITED                       )

Address for Notices:      26 New Street,
                          St. Helier,
                          Jersey JE2 3RA

Fax:                      44 1534 814815

SIGNED by                                   )
for and on behalf of TURQUOISE              )
FUNDING 1 LIMITED                           )

Address for Notices:      26 New Street,
                          St. Helier,
                          Jersey JE2 3RA

Fax:                      44 1534 814815

SIGNED by                                   )
for and on behalf of HSBC BANK PLC          )

Address for Notices:      Level 4,
                          8 Canada Square,
                          London,
                          E14 5HQ

Attention:                HSBC Card Services

Fax:                      44 20 7991 4663

                                       9[GRAPHIC OMITTED]
CLIFFORD                                           LIMITED LIABILITY PARTNERSHIP
CHANCE

                                                                  CONFORMED COPY

                  WILMINGTON TRUST SP SERVICES (LONDON) LIMITED
                                     as WTSS

                           TURQUOISE HOLDINGS LIMITED
                                   as Holdings

                                       and

                      TURQUOISE CARD BACKED SECURITIES PLC
                                    as Issuer

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                          CORPORATE SERVICES AGREEMENT
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                                    CONTENTS
CLAUSE                                                                     PAGE
1.     Definitions And Interpretation........................................1
2.     Appointment Of Corporate Services Provider............................2
3.     Standard Of Care......................................................3
4.     Appointment Of Directors And Secretaries..............................3
5.     Services To Be Provided...............................................3
6.     Indemnity.............................................................4
7.     Representations And Warranties........................................6
8.     Appointment Of Agents.................................................8
9.     Remuneration, Costs And Expenses......................................8
10.    Confidentiality.......................................................9
11.    Termination..........................................................10
12.    Assignment...........................................................11
13.    Non-Petition And Limited Recourse....................................11
14.    Obligations As Corporate Obligations.................................12
15.    Rights Of Third Parties..............................................12
16.    Further Assurance....................................................13
17.    Variation............................................................13
18.    Exercise And Rights And Remedies.....................................13
19.    Notices..............................................................13
20.    Partial Invalidity...................................................14
21.    Force Majeure........................................................14
22.    No Restrictions......................................................14
23.    Counterparts.........................................................15
24.    Governing Law........................................................15
25.    Jurisdiction.........................................................15
26.    Execution............................................................15

THIS AGREEMENT is made on 23 May 2006.

BETWEEN;

(1)     WILMINGTON TRUST SP SERVICES (LONDON) LIMITED (registered number
        2548079), whose principal place of business is at Tower 42 (Level 11),
        International Financial Centre, 25 Old Broad Street, London EC2N 1HQ
        ("WTSS"); and

(2)     TURQUOISE HOLDINGS LIMITED (registered number 5554872), whose principal
        place of business is at c/o Wilmington Trust SP Services (London)
        Limited, Tower 42 (Level 11), 25 Old Broad Street, London EC2N 1HQ
        ("HOLDINGS"); and

(3)     TURQUOISE CARD BACKED SECURITIES PLC (registered number 5506646), whose
        principal place of business is at c/o Wilmington Trust SP Services
        (London) Limited, Tower 42 (Level 11), 25 Old Broad Street, London EC2N
        1HQ (the "ISSUER").

INTRODUCTION:

(A)     Holdings and the Issuer propose to become involved in a securitisation
        transaction (the "TRANSACTION") as described in the Base Prospectus.

(B)     Holdings has an issued share capital of (pound)12,700 divided into
        12,700 ordinary shares, all of which are held by, or on behalf of, WTSS
        under a Declaration of Trust dated 19 April 2006 (the "DECLARATION OF
        TRUST") of which WTSS is the share trustee (the "SHARE TRUSTEE") for the
        beneficiaries named therein.

(C)     The Issuer has a share capital of 50,000 ordinary shares of (pound)1.00
        each, two shares of which are fully paid-up and 49,998 of which are one
        quarter paid-up. 49,999 shares are held by Holdings and one share is
        held by WTSS as trustee for the benefit of Holdings.

(D)     The directors of Holdings and the Issuer are WTSS, Mark Filer and Ruth
        Samson, all of whom have been nominated by WTSS and elected by each
        Company's shareholders. The company secretary of Holdings and the Issuer
        is WTSS.

(E)     WTSS has agreed to provide certain corporate services to Holdings and
        the Issuer subject to and in accordance with the terms and conditions of
        this Agreement.

THE PARTIES AGREE AS FOLLOWS:

1.      DEFINITIONS AND INTERPRETATION

1.1     Unless otherwise defined in this Agreement or the context so requires
        otherwise, words and expressions used in this Agreement shall have the
        meanings and constructions ascribed to them in the Master Framework
        Agreement.

1.2     In this Agreement and in the introduction hereto, unless the context
        otherwise requires:

        "ANNUAL MANAGEMENT FEE" shall have the meaning given thereto in the WTSS
        Fee Letter;

                                     - 1 -

        "ASSOCIATED PERSON" of a Person means a director, officer, company
        secretary, employee, or provider of corporate administration services or
        agent thereof to such Person;

        "BASE PROSPECTUS" means the base prospectus dated on or about the date
        hereof prepared by the Companies in connection with the Transaction;

        "BOARD OF DIRECTORS" and "DIRECTORS" means the board of directors of the
        Company and directors for the time being of the Company as the context
        so requires and "DIRECTOR" shall mean any one of them;

        "COMPANY" means either the Issuer or Holdings and "COMPANIES" means
        Both.

        "CONDITIONS PRECEDENT" means the conditions precedent set out in
        Schedule 1 of this Agreement;

        "FEE LETTER" means the letter dated 23 May 2006 between WTSS and the
        Issuer and Holdings pursuant to which it was agreed that WTSS would
        provide certain corporate services to each Company;

        "FORCE MAJEURE EVENT" means any event beyond the reasonable control of a
        party including, without limitation, strikes, lock-outs, labour
        disputes, acts of God, war, riot, civil commotion, malicious damage,
        compliance with any law of governmental order, rule, regulation or
        direction, accident, breakdown of plant or machinery, fire, flood,
        storm;

        "INITIAL FEE" shall be the fee payable to WTSS on the Closing Date as
        described in the Fee Letter;

        "NOTICE" means any notice delivered under or in connection with this
        Agreement;

        "PERSON" means any person, body corporate, association or partnership
        and shall include their legal personal representatives, successors and
        permitted assigns; and

        "SECRETARY" means the company secretary for the time being.

1.3     The Common Terms apply to this Agreement and shall be binding on the
        parties to this Agreement as if set out in full in this Agreement.

1.4     If there is any conflict between the provisions of the Common Terms and
        the provisions of this Agreement, the provisions of this Agreement shall
        prevail.

2.      APPOINTMENT OF CORPORATE SERVICES PROVIDER

2.1     Each Company hereby appoints WTSS to be its corporate services provider
        on the terms and conditions set out in this Agreement and WTSS accepts
        such appointment.

                                     - 2 -

2.2     The appointment of WTSS pursuant to Clause 2.1 shall be subject to the
        satisfaction of all the Conditions Precedent prior to the Closing Date
        unless otherwise agreed in writing by WTSS.

3.      STANDARD OF CARE

        During the term of this Agreement, WTSS shall, at all times perform its
        obligations with all due care, skill and diligence and in the utmost
        good faith provided that WTSS shall not be required to do or cause to be
        done anything which it is prevented from doing by any Regulatory
        Direction or any Requirement of Law.

4.      APPOINTMENT OF DIRECTORS AND SECRETARIES

4.1     During the term of this Agreement, WTSS will nominate 3 Persons who are
        willing and available to be appointed as Directors and one Person which
        is willing and able to be appointed as Secretary and WTSS shall procure
        that each of the persons nominated by it as a Director (a "NOMINATED
        DIRECTOR") or Secretary (a "NOMINATED SECRETARY") from time to time
        accepts the relevant appointment and acts in the relevant capacity and
        does so without fee or remuneration from each Company, save that nothing
        in this Agreement shall prejudice the right of any Person under Clause 9
        (Remuneration) or Clause 6 (Indemnity) of this Agreement or under the
        Articles of Association of the Company to fees, remuneration or other
        payments.

4.2     WTSS hereby confirms that, if any of the Nominated Directors or the
        Nominated Secretary of a Company should resign or retire or for any
        other reason cease to act as Director or Secretary (as the case may be),
        it will promptly:

        4.2.1   procure that such Nominated Director or Nominated Secretary (as
                the case may be) shall acknowledge in writing (except in the
                case of death, or sudden incapacity) that he has no claim of any
                nature whatsoever against that Company;

        4.2.2   nominate another Person willing to act in the relevant capacity;
                and

        4.2.3   procure the consent of that person to act in that capacity.

5.      SERVICES TO BE PROVIDED

5.1     Subject to Clause 5.2, WTSS agrees to provide the following services as
        applicable:

        5.1.1   arranging all general company secretarial, registrar and company
                administration services required by each Company as a result of
                any Requirement of Law or Regulatory Direction;

        5.1.2   preparing the annual financial statements of each Company prior
                to audit;

        5.1.3   arranging, (at the expense of each Company), for the preparation
                and filing of the corporation tax computation and return;

        5.1.4   providing a place at which each Company's registered office may
                be situate;

                                     - 3 -

        5.1.5   keeping the register of shareholders, issuing share
                certificates, and effecting share transfers and filings (insofar
                as the Board of Directors have approved, signed and delivered
                the same and monies in respect of applicable fees are made
                available) and any applicable statutory returns and tax filings;

        5.1.6   the convening of shareholders' meetings and Board of Directors
                meetings of each Company as and when required, providing
                facilities for holding such meetings and preparing and keeping
                minutes of such meetings;

        5.1.7   accepting service of process and any other documents or notices
                to be served on each Company;

        5.1.8   as and when requested by a Director, the Secretary of a Company
                or the auditor of a Company, delivering to such person such
                information in connection with that Company as may be in
                possession of WTSS or, as the case may be, reasonably obtainable
                by it;

        5.1.9   at the request of the Board of Directors, preparing and
                forwarding to the shareholders all statements and notices which
                the Board of Directors is required to issue and sending or
                serving the same in accordance with a Company's Articles of
                Association;

        5.1.10  giving, at the request of the Board of Directors, any directions
                and information concerning the Companies to any providers of
                services (such as the Servicer, auditors, accountants, financial
                or management advisers or attorneys) or other agents appointed
                by the Board of Directors;

        5.1.11  acting at all times in accordance with all reasonable and proper
                directions, orders and instructions given to it in writing or in
                board meetings by the Board of Directors; and

        5.1.12  communicating with the Directors as necessary.

5.2     WTSS shall not be required to expend or risk its own funds or otherwise
        incur financial liability in the performance of any of its duties
        referred to in Clause 5.1 or in the exercise of any of its rights or
        powers thereunder if there are reasonable grounds for it believing that
        the reimbursement of such expenditure or indemnity satisfactory to it
        against such risk or liability is not assured.

5.3     During the term of this Agreement, WTSS shall ensure that the Issuer is,
        at all times, solely centrally managed and controlled from within the
        United Kingdom.

6.      INDEMNITY

6.1     Subject to Clause 6.2, each Company shall indemnify WTSS and all
        Associated Persons of WTSS (together "INDEMNIFIED PERSONS") against all
        Liabilities arising from or connected with the appointment of WTSS as
        corporate services provider and WTSS's performance of the services and
        other obligations set out in this Agreement.

                                     - 4 -

6.2     An Indemnified Person shall be entitled to be indemnified under Clause
        6.1 if and only if:

        6.2.1   it and, to the extent that it was not acting as principal, its
                principal acted in good faith and without Breach of Duty in
                relation to the matters in respect of which the indemnity is
                sought; and

        6.2.2   it complies fully at all times with the remaining provisions of
                this Clause 6.

6.3     For the purposes of Clause 6.2.1 it shall not be considered a Breach of
        Duty by an Indemnified Person to the extent that such Breach of Duty
        arises as a result of:

        6.3.1   any failure or delay on the part of any other party to the
                Transaction in supplying any information or the supplying of
                incorrect, incomplete or inaccurate information;

        6.3.2   any Breach of Duty by any other party to the Transaction; or

        6.3.3   any action taken by WTSS at the request of a Company or the Note
                Trustee in relation to the Transaction.

6.4     If an Indemnified Person becomes aware of a matter which does or might
        give rise to a right to an indemnity under Clause 6.1 (a "CLAIM"), it
        shall:

        6.4.1   promptly after becoming aware notify the relevant Company in
                writing of the Claim (an "INDEMNITY NOTICE") stating in
                reasonable detail:

                (a)     the nature of the Claim and the level of Liabilities
                        incurred or likely to be incurred; and

                (b)     any claims to an indemnity, contribution or otherwise
                        which it has or may have against any other Person in
                        respect of the Claim; and

        6.4.2   promptly provide any documents, information or other assistance
                in relation to the Claim which the relevant Company reasonably
                request at any time until the Claim is resolved.

6.5     Within 15 working days of receipt of an Indemnity Notice, the relevant
        Company shall state in writing whether, subject to continuing compliance
        with this Clause 6, it will provisionally indemnify the Indemnified
        Person in respect of the Claim set out in the Indemnity Notice.

6.6     If the relevant Company states in writing that, subject to continuing
        compliance with this Clause 6, it will provisionally indemnify the
        Indemnified Person in respect of a Claim set out in an Indemnity Notice
        (an "INDEMNIFIED CLAIM"), the Indemnified Person shall not take any
        steps with regard to the Indemnified Claim without first fully
        consulting the relevant Company and shall take all steps the relevant
        Company reasonably requests in order to:

                                     - 5 -

        6.6.1   mitigate, defend or compromise the Claim including, without
                limitation, through the appointment of lawyers, responding to
                regulatory or investigative enquiries, the issue of legal
                proceedings, the defence of legal or regulatory action,
                mediation or the lodging of appeals; and

        6.6.2   enforce any rights to an indemnity, contribution or otherwise
                which the Indemnified Person has or may have against any other
                Person in respect of the Claim.

        The relevant Company may by notice in writing withdraw a provisional
        indemnity given under Clause 6.4 if, in its absolute discretion, it
        considers in the light of the information then available to it that it
        is unlikely that the Indemnified Person is entitled to an indemnity in
        respect if an Indemnified Claim, in which case the Claim will cease to
        be an Indemnified Claim.

6.7     An Indemnified Person shall not settle or do anything which might
        compromise its ability to contest a Claim in respect of:

        6.7.1   a Claim before the relevant Company has responded in accordance
                with Clause 6.4 above or

        6.7.2   an Indemnified Claim

        without first obtaining the written consent of the relevant Company
        (which shall not be unreasonably withheld or delayed).

6.8     The relevant Company shall meet all reasonable expenses and liabilities
        reasonably incurred in defending an Indemnified Claim in advance of its
        final resolution upon receipt of an undertaking by the Indemnified
        Person that it will repay the amounts advanced, together with interest,
        at the rate specified in Clause 9.4, from the date of payment by the
        relevant Company to the date of repayment, if it is ultimately
        determined that the Indemnified Person is not entitled to be indemnified
        by the relevant Company under Clause 6.1.

6.9     All payments the relevant Company is obliged to make under this Clause 6
        shall be made on the first Interest Payment Date falling more than 15
        working days after receipt by the relevant Company of notification in
        writing of the sum which the Indemnified Person requests payment of
        together with reasonable details of the nature and amount of the
        payment.

7.      REPRESENTATIONS AND WARRANTIES

7.1     Holdings represents and warrants to WTSS as at the date of this
        Agreement that:

        7.1.1   it is duly incorporated in England and Wales with limited
                liability under the Companies Act, with its registered office at
                c/o Wilmington Trust SP Services (London) Limited, Tower 42,
                (Level 11), 25 Old Broad Street, London EC2N 1HQ and it has full
                power and authority to conduct its business as described in the
                Base Prospectus;

                                     - 6 -

        7.1.2   no litigation, arbitration or administrative proceedings of or
                before any court, tribunal or governmental body have been
                commenced or, so far as the Company is aware are pending or
                threatened against the Company or any assets or revenues which
                may have a material adverse effect on the Company;

        7.1.3   it is a company which is and has, since incorporation, been
                resident for tax purposes solely in England and Wales;

        7.1.4   it has obtained and maintained in effect all authorisations,
                approvals, licenses and consents required in connection with its
                business and the consummation of the transactions contemplated
                by the Transaction pursuant to any Requirement of Law or any
                Regulatory Direction applicable to the Company in England and
                Wales and in each other jurisdiction in which the Company
                carries on business;

        7.1.5   it has its "centre of main interests", as that term is used in
                Article 3(i) of the EU Insolvency Regulation, in England and
                Wales;

        7.1.6   no Insolvency Event has occurred in respect of Holdings;

        7.1.7   its management, the places of residence of the directors of
                Holdings and the place at which meetings of the board of
                directors of Holdings are held are all situated in England and
                Wales; and

        7.1.8   it has no "establishment", as that term is used in Article 2(h)
                of the EU Insolvency Regulation or branch office in any
                jurisdiction, no subsidiaries, no employees and no premises.

7.2     The Issuer represents and warrants to WTSS as at the date of this
        Agreement that:

        7.2.1   it is duly incorporated in England and Wales as a public company
                under the Companies Act, with its registered office at c/o
                Wilmington Trust SP Services (London) Limited, Tower 42, (Level
                11), 25 Old Broad Street, London EC2N 1HQ and it has full power
                and authority to conduct its business as described in the Base
                Prospectus;

        7.2.2   no litigation, arbitration or administrative proceedings of or
                before any court, tribunal or governmental body have been
                commenced or, so far as the Company is aware are pending or
                threatened against the Company or any assets or revenues which
                may have a material adverse effect on the Company;

        7.2.3   it is a company which is and has, since incorporation, been
                resident for tax purposes solely in England and Wales; and

        7.2.4   it has obtained and maintained in effect all authorisations,
                approvals, licenses and consents required in connection with its
                business and the consummation of the transactions contemplated
                by the Transaction pursuant to any Requirement of Law or any
                Regulatory Direction applicable to the Company in England and
                Wales and in each other jurisdiction in which the Company
                carries on business.

                                     - 7 -

7.3     WTSS represents and warrants to the Company as at the date of this
        Agreement that:

        7.3.1   it is a company duly incorporated in England with limited
                liability under the Companies Act, with its principal place of
                business at Tower 42, Level 11, International Financial Centre,
                25 Old Broad Street, London EC2N 1HQ existing under the laws of
                England and Wales;

        7.3.2   no litigation, arbitration or administrative proceedings of or
                before any court, tribunal or governmental body have been
                commenced or, so far as WTSS is aware, are pending or threatened
                against WTSS or any assets or revenues which may have a material
                adverse effect on WTSS or this Agreement; and

        7.3.3   in its capacity as the Share Trustee, it will not enter into any
                document or transaction other than as contemplated by the Issuer
                Transaction Documents;

8.      APPOINTMENT OF AGENTS

8.1     WTSS shall be entitled to delegate its functions, powers, discretions,
        duties and obligations under this Agreement to any person, firm or
        corporation (an "AGENT") and any such delegation may be on such terms
        and conditions as WTSS, considers reasonable in the context of the
        duties and responsibilities assumed hereunder by WTSS.

8.2     WTSS or any Agent shall be at liberty in the performance of their duties
        and any exercise of the powers, discretions, privileges and duties
        vested in them under this Agreement to act by responsible officers or a
        responsible office for the time being and may act or rely upon the
        opinion or advice or information obtained by any broker, lawyer,
        accountant, auditor, valuer, surveyor, or other professional advisor or
        expert who is assisting a Company.

9.      REMUNERATION, COSTS AND EXPENSES

9.1     In accordance with the WTSS Fee Letter each Company shall pay to WTSS,
        as consideration for its services provided pursuant to this Agreement,
        the Annual Management Fee, provided that the invoice for the amount of
        such services is received, by the Servicer at 8 Canada Square, London,
        E14 5HQ at least ten days prior to the Interest Payment Date, relevant
        to each payment date, and if such invoice is not received at least ten
        days prior to the Interest Payment Date, the Annual Management Fee will
        be paid on the following Interest Payment Date. The Annual Management
        Fee shall be paid to the bank account specified in the WTSS Fee Letter
        attached hereto.

9.2     Each Company shall reimburse WTSS on demand for all reasonable
        travelling and other out of pocket expenses properly incurred by it, its
        agents, employees, Nominated Directors and Nominated Secretaries in the
        performance of its duties and enforcement of its rights under this
        Agreement and all reasonable fees and disbursements (including, without
        limitation those of a legal nature) incurred by it in the negotiation,
        preparation, execution and administration of this Agreement.

                                     - 8 -

9.3     Each Company shall pay WTSS such additional remuneration, or meet the
        cost of such additional expenses (including legal and accounting advice)
        as shall be agreed between WTSS and each Company in the event that WTSS
        finds it expedient or necessary or is requested by a Company to
        undertake duties which WTSS and such Company agrees to be of an
        exceptional nature or otherwise outside the scope of the services
        provided under Clause 5.

9.4     Any amounts due by a Company to WTSS shall bear interest at the rate of
        2.5 per cent. per annum above the base rate from time to time of Royal
        Bank of Scotland PLC and interest shall accrue:

        9.4.1   in the case of payments made by WTSS prior to the date of
                demand, from the date on which the payment was made or such
                later date as specified in such demand;

        9.4.2   in the case of payments made by WTSS on or after the date of the
                demand, from the date specified in such demand, which date shall
                not be a date earlier than the date such payments are made;

        9.4.3   in the case of any remuneration payable by a Company, from the
                due date thereof.

10.     CONFIDENTIALITY

10.1    CONFIDENTIALITY OF INFORMATION

        WTSS agrees that it shall, and hereby undertakes to procure that each
        Nominated Director or Nominated Secretary shall (regardless of whether
        or not such person shall still be in office) keep confidential and it
        shall not, and hereby undertakes to procure that each Nominated Director
        or Nominated Secretary shall not (regardless of whether or not such
        person shall still be in office) disclose to any person whatsoever, any
        information relating to the business, finances or other matters of a
        confidential nature of each Company which it may have obtained as a
        result of the execution of this Agreement or of which it may otherwise
        have become possesses as a result of its performance of its obligations
        under this Agreement.

10.2    DISAPPLICATION OF CONFIDENTIALITY PROVISIONS

        WTSS shall use all reasonable endeavours to prevent any disclosure
        referred to in Clause 10.1 (Confidentiality of information) provided
        however that the provisions of Clause 10.1 shall not apply:

        10.2.1  to the disclosure of any information to any person insofar as
                such disclosure is expressly permitted by this Agreement;

                                     - 9 -

        10.2.2  to the disclosure of any information already known to the
                recipient (otherwise than as a result of a breach of Clause
                10.1)

        10.2.3  to the disclosure of any information with the consent of each
                Company;

        10.2.4  to the disclosure of any information which is or becomes public
                knowledge otherwise than as a result of the conduct of WTSS;

        10.2.5  to the extent that WTSS is required to disclose any information
                pursuant to any Requirement of Law or any Regulatory Direction;

        10.2.6  to the extent that WTSS needs to disclose any information to any
                of its employees provided that before any such disclosure WTSS
                shall make the relevant employees aware of its obligations of
                confidentiality under this Agreement and shall at all times
                procure compliance with such obligations by such employees;

        10.2.7  to the disclosure of any information to professional advisers
                who receive the same under a duty of confidentiality; or

        10.2.8  to the disclosure of any information disclosed to an Agent or a
                prospective successor corporate services provider on the basis
                that the recipient will hold such information confidential upon
                substantially the same terms as this Clause.

11.     TERMINATION

11.1    WTSS or a Company, as the case may be, shall have the right to terminate
        this Agreement forthwith by giving notice to the other party if:

        11.1.1  such party commits a material breach of any of the terms and/or
                conditions of this Agreement and fails to remedy the same within
                thirty (30) days (or such other period as shall be agreed
                between the parties) of being so required so to do; or

        11.1.2  either party enters into Insolvency Proceedings.

11.2    This Agreement shall terminate automatically on the date on which the
        liquidation or dissolution of a Company has been completed.

11.3    Upon the delivery of a termination notice, pursuant to Clause 11.1, WTSS
        shall use its best endeavours to ensure the effective transfer of its
        duties under this Agreement and the transmission of all corporate
        documents and information in its possession in connection with a Company
        to a newly appointed corporate services provider, and shall procure the
        prompt resignation of any Nominated Directors and Nominated Secretaries.
        Any termination of this Agreement pursuant to Clause 11.1 shall not take
        effect until a successor to WTSS has been appointed.

                                     - 10 -

12.     ASSIGNMENT

        A Company may not transfer or assign the benefit of this Agreement other
        than to the Note Trustee by way of security pursuant to the Security
        Documents.

13.     NON-PETITION AND LIMITED RECOURSE

13.1    NO PROCEEDINGS AGAINST THE COMPANY

        Only the Note Trustee may pursue the remedies available under the
        general law or under the Relevant Documents to enforce the Note Security
        and WTSS shall not be entitled to proceed directly against a Company to
        enforce the Note Security. In particular, each Company and WTSS agree
        and acknowledge that:

        13.1.1  WTSS is not entitled, otherwise than as permitted by the
                Relevant Documents, to direct the Note Trustee to enforce the
                Note Security or take any proceedings against a Company to
                enforce the Note Security;

        13.1.2  WTSS shall not have the right to join any person in taking any
                steps against a Company for the purposes of obtaining payment of
                any amount due from such Company;

        13.1.3  until the date falling two years after the Final Discharge Date
                neither WTSS nor any person on its behalf shall initiate or join
                an person in initiating any Insolvency Proceedings in relation
                to a Company; and

        13.1.4  WTSS shall not be entitled to take or join in the taking of any
                steps or proceedings which would result in the priority of
                payments as specified in the relevant Note Trust Deed Supplement
                (prior to any Enforcement Notice) and in the Conditions (after
                any Enforcement Notice) not being observed.

13.2    LIMITED RECOURSE

        WTSS agrees with each Company that:

        13.2.1  notwithstanding any other provisions of this Agreement or any
                relevant Documents, all obligations of each Company to WTSS are
                limited in recourse as set out below;

        13.2.2  it will have a claim only in respect of the Secured Property and
                will not have any claim, by operation of law or otherwise,
                against, or recourse to any of each Company's other assets or
                its contributed capital;

        13.2.3  sums payable to WTSS in respect of each Company's obligations
                shall be limited to the lesser of (a) the aggregate amount of
                all sums due and payable to WTSS and (b) the aggregate amounts
                received, realised or otherwise recovered by or for the account
                of each Company in respect of the Secured Property whether
                pursuant to enforcement of the Note Security or otherwise, net
                of any sums which are payable by each Company in accordance with
                the priority of payments as specified in the relevant Note Trust
                Deed Supplement (prior to any Enforcement Notice) and in the
                Conditions (after any Enforcement Notice) in priority to or pari
                passu with the sums payable to WTSS; and

                                     - 11 -

        13.2.4  upon the Note Trustee giving written notice to WTSS that it has
                determined in its sole opinion, and the Servicer having
                certified to the Note Trustee, that there is no reasonable
                likelihood of there being any further realisations in respect of
                the Secured Property (whether arising from an enforcement of the
                Note Security or otherwise) which would be available to pay
                unpaid amounts outstanding under this Agreement, WTSS shall have
                no further claim against a Company in respect of such unpaid
                amounts and such unpaid amounts shall be discharged in full.

14.     OBLIGATIONS AS CORPORATE OBLIGATIONS

14.1    NO RECOURSE AGAINST SHAREHOLDERS AND OTHERS

        Each Company shall have no recourse against any shareholder, officer,
        agent, employee or director of WTSS in his capacity as such, by any
        proceedings or otherwise, in respect of any obligation, covenant, or
        agreement of a Company (acting in any capacity whatsoever) contained in
        this Agreement, any Relevant Document or otherwise.

14.2    CORPORATE OBLIGATIONS

        It is expressly agreed and understood that this Agreement is a
        corporate obligation of the Company and WTSS.

14.3    NO PERSONAL LIABILITY

        No personal liability shall attach to or be incurred by any shareholder,
        officer, agent, employee or director of a Company or WTSS in his
        capacity as such, under or by reason of any of the obligations,
        covenants or agreements of a Company and WTSS contained in this
        Agreement or implied from this Agreement and any and all personal
        liability of every such shareholder, officer, agent, employee or
        director for breaches by a Company or WTSS of any such obligations,
        covenants or agreements, either at law or by statute or constitution, is
        hereby expressly waived by each Company and WTSS as a condition of and
        consideration for the execution of this Agreement.

15.     RIGHTS OF THIRD PARTIES

        Except as provided for in this clause and in clauses 14.1, 14.3 and 22 a
        person who is not a party to this Agreement has no right under the
        Contract (Rights of Third Parties) Act 1999 to enforce any term of this
        Agreement but this does not affect any right or remedy of a third party,
        which exists or is available apart from that Act.

                                     - 12 -

16.     FURTHER ASSURANCE

        Each Company and WTSS agree that they will co-operate fully to do all
        such further acts and things and execute any further documents as may be
        necessary or desirable to give full effect to the arrangements
        contemplated by this Agreement.

17.     VARIATION

	A variation of this Agreement is valid only if it is agreed in writing
	by or on behalf of each of the parties hereto.

18.     EXERCISE AND RIGHTS AND REMEDIES

18.1    NO WAIVER

        A failure to exercise or delay in exercising a right or remedy provided
        by this Agreement or by law does not constitute a waiver of the right or
        remedy or a waiver of other rights or remedies. No single or partial
        exercise of a right or remedy provided in this Agreement or by law
        prevents further exercise of the rights or remedy or the exercise of
        another right or remedy.

18.2    RIGHTS AND REMEDIES CUMULATIVE

        Except where this Agreement specifically provides otherwise, the rights
        and remedies contained in this Agreement are cumulative and not
        exclusive of rights or remedies provided by law.

19.     NOTICES

19.1    Unless otherwise stated herein, each communication or notice to be made
        hereunder shall be made in writing and may be made by fax or letter in
        accordance with the terms of the Master Framework Agreement.

19.2    NOTICE DETAILS

        Notice hereunder shall be sent as follows:

        19.2.1  if to Holdings and/or the Issuer to it at:

                Address:      c/o Wilmington Trust SP Services (London) Limited
                              Tower 42, (Level 11)
                              25 Old Broad Street
                              London EC2N 1HQ

                Tel:          +44 20 7614 1111
                Fax:          +44 20 7614 1122

                Attention:    The Secretary

                                     - 13 -

        19.2.2  if to WTSS to it at:

                Address:      Wilmington Trust SP Services (London) Limited
                              Tower 42, Level 11
                              International Financial Centre
                              25 Old Broad Street
                              London EC2N 1HQ

                Tel:          +44 20 7614 1111
                Fax:          +44 20 7614 1122

                Attention:    The Directors

20.     PARTIAL INVALIDITY

        The invalidity, illegality or unenforceability of a provision of this
        Agreement does not affect or impair the continuation in force or the
        remained of this Agreement.

21.     FORCE MAJEURE

21.1    If either party is prevented, hindered or delayed from or in performing
        any of its obligations under this Agreement by a Force Majeure Event
        then:

        21.1.1  that party's obligations under this Agreement shall be suspended
                for so long as the Force Majeure Event continues and to the
                extent that that party is so prevented, hindered or delayed;

        21.1.2  as soon as reasonably possible after commencement of the Force
                Majeure Event that party shall notify the other party in writing
                of the occurrence of the Force Majeure Event, the date of
                commencement of the Force Majeure Event and the effects of the
                Force Majeure event on its ability to perform its obligations
                under this Agreement;

        21.1.3  if that party fails to give the notice referred to in Clause
                21.1.2 it shall forfeit its rights under Clause 21.1.1;

        21.1.4  that party shall use all reasonable efforts to mitigate the
                effects of the Force Majeure event upon the performance of its
                obligations under this Agreement; and

        21.1.5  as soon as reasonably possible after the cessation of the Force
                Majeure Event that party shall notify the other party in writing
                of the cessation of the Force Majeure Event and shall resume
                performance of its obligations under this Agreement.

21.2    If the Force Majeure Event continues for more than six months after the
        commencement of the Force Majeure Event either party may terminate this
        Agreement by giving not less than 30 days notice in writing to the other
        party and, in such circumstances, the provisions of Clause 11.3 shall
        not be effective.

                                     - 14 -

22.     NO RESTRICTIONS

        Nothing in this Agreement shall limit or restrict the right of any
        director, officer or employee of WTSS or any director, officer, employee
        or partner of any of its subsidiaries or its affiliates to engage in any
        other business or to devote his time and attention to the management or
        other aspects of any other business, whether of a similar or dissimilar
        nature, nor to limit or restrict the right of WTSS or of any of its
        subsidiaries or affiliates to engage in any other business or to render
        the services of any kind to any other corporation, firm, individual or
        association.

23.     COUNTERPARTS

        This Agreement may be executed in a number of counterparts, all of which
        taken together shall constitute one and the same instrument.

24.     GOVERNING LAW

        This Agreement shall be governed by and construed in accordance with the
        laws of England.

25.     JURISDICTION

25.1    ENGLISH COURTS

        The courts of England have exclusive jurisdiction to settle any dispute
        arising out of or in connection with this Agreement, including a dispute
        regarding the existence, validity or termination of this Agreement or
        the consequences of its nullity.

25.2    CONVENIENT FORUM

        Each Company and WTSS agree that the courts of England are the most
        appropriate and convenient courts to settle Disputes between them, and
        accordingly, that they will not argue to the contrary.

25.3    SERVICE OF PROCESS

        Each Company and WTSS agree that the documents which start any suit,
        action or proceedings and any other documents required to be served in
        relation to such suit, action or proceedings may be served on it by
        being delivered to its address for notice specified in Clause 19.

26.     EXECUTION

        The parties have executed this Agreement on the date stated at the
        beginning of this Agreement.

                                     - 15 -

                                 EXECUTION PAGE

Signed on behalf of                    )
WILMINGTON TRUST SP                    )      MARTIN MCDERMOTT
SERVICES (LONDON) LIMITED              )

Signed on behalf of                    )
TURQUOISE HOLDINGS LIMITED             )      RUTH SAMSON
                                              Director

Signed on behalf of                    )
TURQUOISE CARD BACKED                  )      RUTH SAMSON
SECURITIES PLC                         )      Director

                                     - 16 -

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