OVERVIEW We have assigned preliminary 'AAA' credit ratings to the class A notes in Fosse Master Issuer series 2010-2. A pool of first-ranking mortgages secured over properties in England, Scotland, Wales, and Northern Ireland will collateralize the notes. LONDON (Standard&Poor's) May 10, 2010--Standard&Poor's Ratings Services today assigned its preliminary credit ratings to Fosse Master Issuer PLC's issuance of up to £1.5 billion (equivalent) mortgage-backed series 2010-2 class A notes. At the same time, Fosse Master Issuer will issue one tranche of subordinated unrated class Z notes (see list below). This transaction will be the fifth issuance from the Fosse master trust. Following the series 2010-2 issuance, we expect the collateral pool to increase substantially to approximately
