Granite Mortgages 02-1 PLC

RE: GRANITE MORTGAGES 02-1 PLC
    GBP 460,000,000.00
    MATURING: 20-Apr-2042
    ISSUE DATE: 20-Mar-2002
    ISIN: XS0144804712

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Jan-2005 TO 20-Apr-2005 HAS BEEN FIXED AT 5.070000 PCT.

DAY BASIS 90/365

INTEREST PAYABLE VALUE 20-Apr-2005 WILL AMOUNT TO
GBP 125.01 PER GBP 10,000.00 DENOMINATION.
GBP 1,250.14 PER GBP 100,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 020 7508 3858/3855 OR FAX: 44 020 7508 3881.
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