ALBA 2007 – 1 plc - Irish Stock Exchange

There is no assurance that redemption of the Notes will occur as described in (o). The Issuer has no
recourse to the Seller in financing its option to redeem all (but not only some) of the Notes.
Assumption (n) above is stated as an average annualised prepayment rate since the prepayment rate for
one Interest Period may be substantially different from that of another. The constant prepayment rates
shown above are purely illustrative and do not represent the full range of possibilities for constant
prepayment rates.
The average lives of the Notes are subject to factors largely outside of the control of the Issuer and
consequently no assurance can be given that the Modelling Assumptions used to calculate the average
life of the Notes will prove in any way to be realistic and they must therefore be viewed with
considerable caution.
Any difference between the Modelling Assumptions and the actual performance and characteristics of
the Mortgages will cause the average life of the Notes to differ (which difference can be material) from
the corresponding information in the table.
The actual characteristics and performance of the Mortgages are likely to differ from the Modelling
Assumptions used in constructing the table, which are hypothetical in nature and are provided only to
give a general sense of how the principal cash flows might behave under varying prepayment
assumptions.