Granite Mortgages 02-1 PLC

RE: GRANITE MORTGAGES 02-1 PLC
    GBP 15,000,000.00
    MATURING: 20-Apr-2042
    ISSUE DATE: 20-Mar-2002
    ISIN: XS0144806501
                       
PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Jul-2005 TO 20-Oct-2005 HAS BEEN FIXED AT 9.140000 PCT

DAY BASIS 92/365

INTEREST PAYABLE VALUE 20-Oct-2005 WILL AMOUNT TO:
GBP 76.79 PER GBP 3,333.33 DENOMINATION
GBP 767.93 PER GBP 33,333.33 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881
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