FRN Variable Rate Fix

RNS Number:5470L
Maple Mortgage Securities No.1
27 May 2003


MAPLE MORTGAGE SECURITIES NO1 PLC
#93 MILLION CLASS A2 NOTES
MULTI-CLASS MORTGAGE BACKED FLOATING RATE NOTES DUE 2030

Please accept this letter as confirmation that, with respect to the above, there
will be a principal repayment of #2,507.00 per #100,000 A2 Note, pursuant to
Clause (5b) of the Notes, on the interest payment date of 28 February 2003.

The principal amount outstanding at the latter date will be #19,583.00 per Note.

Please note that Sun Bank plc acts as Administrator for the above mortgage pool.


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