LISTING SUPPLEMENT $189000000 Class A-1 Notes $342100000 ...

The Indenture Trustee will represent the interests of the noteholders and will have the
right to access appropriate and relevant information relating to the assets of the Trust.
First Marblehead Data Services, Inc. (the “Administrator”), as administrator of the Trust,
may resign upon 60 days notice, in which event a successor administrator must be appointed.
The Administrator may also be removed (i) if the Administrator ceases to be eligible to continue
as administrator under the Administration Agreement dated as of June 10, 2004 among the
Administrator, the Trust, the Owner Trustee and the Indenture Trustee, (ii) if the Administrator
becomes insolvent or (iii) without cause upon 60 days notice. No resignation or removal of the
Administrator shall take effect until (a) a successor administrator has been appointed and (b)
after each Rating Agency has declared in writing that such appointment will not result in a
reduction or withdrawal of the then current rating of the notes offered by the Trust. U.S. Bank
National Association has entered into a Back-up Note Administration Agreement dated as of
June 10, 2004 with the Trust, the Owner Trustee and the Administrator to perform the duties and
obligations of the administrator if First Marblehead Data Services, Inc. ceases to provide
administrative services.
So long as any of the Listed Notes are outstanding, copies of the following documents
will be available for inspection at the offices of the Irish Paying Agent and at the registered
office of the Trust:
(1) Trust Agreement;
(2) Indenture;
(3) Administration Agreement;
(4) Servicing Agreements;
(5) Guaranty Agreements; and
(6) Deposit and Security Agreement.
Capitalisation and Indebtedness of the Trust
As of June 10, 2004, the capitalisation and indebtedness of the Trust after giving effect to
the issuance of the Notes before deducting expenses of the offering will be as follows:
Notes
Class A-1 Notes $189,000,000
Class A-2 Notes $342,000,000
Class A-3 Notes $105,000,000
Class A-4 Notes $75,000,000
Class A-IO-1 Notes
$75,000,000 (notional amount)
Class A-IO-2 Notes
$75,000,000 (notional amount)
Class B-1 Notes $39,500,000
Class B-2 Notes $39,500,000
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