Redemption Notice

    RNSRED Number:6970I
Arran One Limited
13 March 2003



                         NOTICE TO HOLDERS

                         ARRAN ONE LIMITED

                            Series 00-A

          Class A US$525,000,000 Series 00-A Asset Backed FRN
          Class B US$ 36,000,000 Series 00-A Asset Backed FRN
          Class C US$ 39,000,000 Series 00-A Asset Backed FRN

Please be advised that The Bank of New York, London Branch, as Agent Bank hereby
notifies the holders of the above stated Notes that on the Scheduled Redemption
Date being 17th March, 2003 and in accordance with Condition 6 of the Terms and
Conditions, the Series 00-A Notes will be redeemed in full.

                            CUSIP                 ISIN
Class A                     04269 RAA6            US04269RAA68
Class B                     04269 RAB4            US04269RAB42
Class C                     04269 RAC2            US04269RAC25

The principal payment and interest payment due to be paid on the 17/03/2003 is
as follows:

                            Principal Payment          Interest Payment
Class A                     US$ 525,000,000            US$ 2,056,979.17
Class B                     US$  36,000,000            US$ 159,250.00
Class C                     US$  39,000,000            US$ 222,798.33 

                              THE BANK OF NEW YORK, LONDON BRANCH


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

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