FRN Variable Rate Fix

RNS Number:5687Y
Mortgages No 1 PLC
12 July 2002


As Agent Bank, please be advised of the following rate determined on: 
12-Jul-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-Jul-2002  To  14-Oct-2002    Payment Date  14-Oct-2002
Number of Days    :        94
Rate              :        4.47438              Pool Factor:   0.2434
Denomination GB   :        2,434.00        100,000.00
Amount Payable             
Per Denomination  :        28.05



As Agent Bank, please be advised of the following rate determined on: 
12-Jul-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-Jul-2002  To  14-Oct-2002    Payment Date  14-Oct-2002
Number of Days    :     94
Rate              :     5.47438
Denomination GB   :     10,000.00       100,000.00
Amount Payable          
Per Denomination  :     140.98



As Agent Bank, please be advised of the following rate determined on: 
12-Jul-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-Jul-2002  To  14-Oct-2002    Payment Date  14-Oct-2002
Number of Days    :     94
Rate              :     7.07438
Denomination GB   :     10,000.00        1,000,000.00
Amount Payable          
Per Denomination  :     182.19



As Agent Bank, please be advised of the following rate determined on: 
12-Jul-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-Jul-2002  To  14-Oct-2002    Payment Date  14-Oct-2002
Number of Days    :       94
Rate              :       8.07438                Pool Factor:   0.4114
Denomination GB   :       4,114.00         100,000.00
Amount Payable            
Per Denomination  :       85.55



As Agent Bank, please be advised of the following rate determined on: 
12-Jul-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-Jul-2002  To  14-Oct-2002    Payment Date  14-Oct-2002
Number of Days    :       94
Rate              :       0.5150684932           Pool Factor:   0.2434
Denomination GB  :        2,434.00
Amount Payable            
Per Denomination  :       12.54


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



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