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/Jul/2005 TO 20/Oct/2005 HAS BEEN FIXED AT 3.780000 PCT.

DAY BASIS 92/360

INTEREST PAYABLE VALUE 20/Oct/2005 WILL AMOUNT TO
USD 43.57 PER USD 4,510.36 DENOMINATION.
USD 435.70 PER USD 45,103.53 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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