PRESS RELEASE: Fitch:Principality Building Society Bonds (Nasdaq)

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Fitch Ratings-London-29 January 2009: Fitch Ratings has assigned Principality Building Society's (Principality, rated 'A-'((A minus))/Negative/'F2') Series 1 mortgage covered bonds a final 'AAA' rating. Principality's first series of mortgage covered bonds was issued under a EUR3bn programme.

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