Securitisation Issue

Paragon Group Of Companies PLC
19 July 2007




                    PARAGON ATTRACTS STRONG INVESTOR DEMAND
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                          FOR ITS 53rd SECURITISATION
                          ---------------------------

Investor appetite for securitised buy-to-let loans originated by Paragon remains
high, with the Group's latest securitisation successfully completed today, 19
July 2007.

Paragon is the UK's most prolific issuer of residential mortgage-backed
securities and PM15 is the Group's 53rd transaction. Backed by prime buy-to-let
mortgages, this £1.0 billion transaction brings the Group's total issuance to
£19.5 billion.

Nick Keen, Finance Director of Paragon, said: 'We continue to see strong
investor appetite for bonds backed by Paragon's prime buy-to-let mortgages, even
in an environment where credit quality is being questioned in other sectors of
the mortgage market. Our long-term track record as an originator of high quality
assets and as the benchmark issuer of buy-to-let RMBS has allowed us to build a
strong investor base in the UK and overseas. The success of our latest
transaction demonstrates that the market continues to appreciate the superior
credit performance of buy-to-let assets.'

PM15 notes were issued in three tranches, rated by Standard & Poor's, Moody's
and Fitch, and offered in Sterling, Euro and US Dollars.

The details of the transaction are as follows:

•    The £1,001,132,732 (sterling equivalent) of Notes are issued by
     Paragon Mortgages (No.15) PLC in 7 classes and in three currencies.

     -    The Class A1 senior Notes are issued in US Dollars $1,000,000,000

     -    The A2 senior Notes in three currencies: Sterling £209,500,000, Euro
          €110,000,000 and US Dollars $150,000,000

     -    The Class B Notes are issued in two currencies: Sterling £17,000,000
          and Euro €85,500,000

     -    The Class C Notes are issued in Euro: €110,500,000

     -    The Class A1 remarketable 2a-7 Notes have been assigned a rating of
          P-1, A-1+, F-1+ by Moody's, Standard & Poor's and Fitch respectively. 
          The ratings agencies have assigned ratings of Aaa, AAA and AAA 
          respectively to the Class A2 Notes

     -    Although all classes of Notes share the same security, the Class A1
          Notes rank pari passu with the Class A2 Notes, and have priority over 
          the Class B Notes and the Class B Notes have priority over the Class 
          C Notes as to quarterly payments of interest and as to principal in 
          the event of enforcement

•    The margins over the relevant currency reference rate for each of the 
     tranches of the Notes are: 0bp for the Class A1; 11bp-13bp for the Class 
     A2; 27bp for the Class B; and 55bp for the Class C Notes.

•    The Notes are secured by a pool of prime buy-to-let mortgages, as well as 
     a cash fund of 1.90% of the aggregate principal balance of the Notes.

•    Paragon Finance PLC and Mortgage Trust Services PLC are the administrators 
     for the issue.

                                    - ENDS -



For further information, please contact:

Nick Keen
Finance Director
The Paragon Group of Companies PLC
Tel: [phone]





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