FRN Variable Rate Fix

RNS Number:0456A
Silver No.1 PLC
15 August 2002



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 Rate has been determined as:         3.97250%
For the period:     15-Aug-02    to 16-Sep-02
 
                         
                    Beginning Principal 
   Class                Outstanding     All-in-Rate  Days  Interest Due  Factor per 1,000

GBP 100m Class A1A    51,938,183.65     4.47250%     32     203,654.60    2.03655

GBP 23.5m Class M     23,500,000.00     4.62250%     32     95,236.16     4,05260

GBP 19.5m Class B     19,500,000.00     5.47250%     32     93,557.26     4.79781

GBP 12.5m Class C     12,500,000.00     6.47250%     32     70,931.51     5.67452

GBP 8m Class D         8,000,000.00     9.97250%     32     69,944.11     8.74301

The next payment date will be on:
16-Sep-02 


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


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