Granite Mortgages 02-1 PLC

RE: GRANITE MORTGAGES 02-1 PLC
USD 1,274,400,000.00
MATURING: 20-Jul-2019
ISSUE DATE: 20-Mar-2002
ISIN: US38741NAB91

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Apr-2005 TO 20-Jul-2005 HAS BEEN FIXED AT 3.304750 PCT

DAY BASIS 91/360

INTEREST PAYABLE VALUE 20-Jul-2005 WILL AMOUNT TO:
USD 43.16 PER USD 5,166.35 DENOMINATION
USD 431.58 PER USD 51,663.53 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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