GRANITE MORTGAGES 02-1 PLC

RE: GRANITE MORTGAGES 02-1 PLC
GBP 22,500,000.00
MATURING: 21-Apr-2042
ISSUE DATE: 20-Mar-2002
ISIN: XS0144806253

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Jul-2006 TO 20-Oct-2006 HAS BEEN FIXED AT 6.036880 PCT

DAY BASIS 92/365

INTEREST PAYABLE VALUE 20-Oct-2006 WILL AMOUNT TO:
GBP 152.16 PER GBP 10,000.00 DENOMINATION
GBP 1521.62 PER GBP 100,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881
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