FRN Variable Rate Fix

RNS Number:4828U
Mortgages No 1 PLC
12 April 2002


As Agent Bank, please be advised of the following rate determined on: 
12-APR-2002.

Issue             :  MORTGAGES NO. 1 PLC - CLASS A
                     £154,000,000 MORTGAGE BACKED FRN DUE APRIL 2033
ISIN Number       :  XS0111091368
Issue Nominal GBP :  154,000,000.00
Period            :  12-APR-2002  To  12-JUL-2002    Payment Date  12-JUL-2002 
Number of Days    :  91
Rate              :  4.55953                Pool Factor:  0.2994
Denomination GBP  :  2,994.00          100,000.00
Amount Payable
Per Denomination  :  34.03

From:
Institutional    Telephone [phone]
Trust Services   Facsimile 44 (0) 1202 34 7438




As Agent Bank, please be advised of the following rate determined on: 
12-APR-2002.

Issue             :  MORTGAGES NO. 1 PLC - CLASS M
                     £10,500,000 MORTGAGE BACKED FRN DUE APRIL 2033
ISIN Number       :  XS0111091525
Issue Nominal GBP :  10,500,000.00
Period            :  12-APR-2002  To  12-JUL-2002    Payment Date  12-JUL-2002 
Number of Days    :  91
Rate              :  5.55953                
Denomination GBP  :  10,000.00          100,000.00
Amount Payable
Per Denomination  :  138.61

From:
Institutional    Telephone [phone]
Trust Services   Facsimile 44 (0) 1202 34 7438




As Agent Bank, please be advised of the following rate determined on: 
12-APR-2002.

Issue             :  MORTGAGES NO. 1 PLC - SERIES B
                     £13,500,000 MORTGAGE BACKED FRN DUE APRIL 2033
ISIN Number       :  XS0111091871
Issue Nominal GBP :  13,500,000.00
Period            :  12-APR-2002  To  12-JUL-2002    Payment Date  12-JUL-2002 
Number of Days    :  91
Rate              :  7.15953
Denomination GBP  :  10,000.00          1,000,000.00
Amount Payable
Per Denomination  :  178.50

From:
Institutional    Telephone [phone]
Trust Services   Facsimile 44 (0) 1202 34 7438




As Agent Bank, please be advised of the following rate determined on: 
12-APR-2002.

Issue             :  MORTGAGES NO. 1 PLC - CLASS S
                     £4,970,000 MORTGAGE BACKED FRN DUE APRIL 2033
ISIN Number       :  XS0111092093
Issue Nominal GBP :  4,970,000.00
Period            :  12-APR-2002  To  12-JUL-2002    Payment Date  12-JUL-2002 
Number of Days    :  91
Rate              :  8.15953                Pool Factor:  0.4785
Denomination GBP  :  4,785.00          100,000.00
Amount Payable
Per Denomination  :  97.34

From:
Institutional    Telephone [phone]
Trust Services   Facsimile 44 (0) 1202 34 7438




As Agent Bank, please be advised of the following rate determined on: 
12-APR-2002.

Issue             :  MORTGAGES NO. 1 PLC - CLASS A DETACHABLE COUPONS
                     £154,000,000 MORTGAGE BACKED FRN DUE APRIL 2033
ISIN Number       :  XS0111094442
Issue Nominal GBP :  154,000,000.00
Period            :  12-APR-2002  To  12-JUL-2002    Payment Date  12-JUL-2002 
Number of Days    :  91
Rate              :  0.49863013698                Pool Factor:  0.2994
Denomination GBP  :  2,994.00          100,000.00
Amount Payable
Per Denomination  :  14.93

From:
Institutional    Telephone [phone]
Trust Services   Facsimile 44 (0) 1202 34 7438




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