FRN Variable Rate Fix

RNS Number:5057C
Silver No.1 PLC
15 October 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:   3.98750% 
For the period:     15-Oct-02    to 15-Nov-02 
                                            
                    
   Class           Beginning Principal All-in-Rate  Days  Interest Due    Factor 
                       Outstanding                                     per 1,000 

GBP 100m Class A1A    47,332,894.80     4.48750%     31     180,399.93   1.80400 
GBP 23.5m Class M     23,500,000.00     4.63750%     31      92,559.42   3.93870 
GBP 19.5m Class B     19,500,000.00     5.48750%     31      90,882.02   4.66062 
GBP 12.5m Class C     12,500,000.00     6.48750%     31      68,874.14   5.50993 
GBP 8m Class D         8,000,000.00     9.98750%     31      67,860.27   8.48253


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


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

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