FRN Variable Rate Fix

RNS Number:8598Z
Silver No.1 PLC
12 August 2002


RE: SILVER NO.1 PLC

EUR 157,000,000 Class A1B Mortgage Backed Floating Rate Notes due 2027
ISIN: XS0127264900

Please be advised that the EUR Deposit Interpolation Rate has been determined 
as:   3.36100% 
For the period:        15-Jul-02    to    15-Aug-02

                Beginning                                               Interest 
                Principal                                                 Factor 
Class         Outstanding    All-in-Rate     Days     Interest Due     per 1,000

EUR 157m    92,277,002.57       3.84100%       31       305,208.75       1.94400
Class A1B

Principal Amount       Current Pool
Amortising                   Factor          New Pool Factor

Class A1B:      
10,734,054.20      0.58775160872612         0.51938183675159


The next payment date will be on:
15-Aug-02




RE: SILVER NO.1 PLC

GBP 100,000,000 Class A1A Mortgage Backed 
Floating Rate Notes due 2027                                 ISIN: XS0127219433

GBP 23,500,000 Class M Mortgage Backed 
Floating Rate Notes due 2027                                 ISIN: XS0127268059

GBP 19,500,000 Class B Mortgage Backed 
Floating Rate Notes due 2027                                 ISIN: XS0127268216

GBP 12,500,000 Class C Mortgage Backed 
Floating Rate Notes due 2027                                 ISIN: XS0127268646

GBP 8,000,000 Class D Mortgage Backed 
Floating Rate Notes due 2027                                 ISIN: XS0127268992


Please be advised that the GBP Deposit Interpolation Rate has been determined 
as:   3.93813% 
For the period:      15-Jul-02   to  15-Aug-02


                Beginning                                               
                Principal                                                 Factor 
Class         Outstanding    All-in-Rate     Days     Interest Due     per 1,000

GBP 100m    
Class A1A   58,775,160.84     4.4381300%       31       221,545.37       2.21545

GBP 23.5m   
Class M     23,500,000.00     4.5881300%       31        91,574.05       3.89677

GBP 19.5m   
Class B     19,500,000.00     5.4381300%       31        90,064.37       4.61869

GBP 12.5m 
Class C     12,500,000.00     6.4381300%       31        68,350.01       5.46800

GBP 8m 
Class D      8,000,000.00     9.9381300%       31        67,524.83       8.44060


Principal Amount       Class A1A Current       Class A1A New Pool
Amortising                   Pool Factor                   Factor

Class A1A:
6,836,977.19              0.587751608400           0.519381836500


The next payment date will be on:
15-Aug-02 



                      This information is provided by RNS
            The company news service from the London Stock Exchange

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