RNS Number:6875L
Mortgages No 2 PLC
16 October 2001


As Agent Bank, please be advised of the following rate determined on: 
15-OCT-2001.

Issue             :  MORTGAGES NO. 2 PLC - CLASS A DETACHABLE COUPONS
                     #190,000,000 MORTGAGE BACKED FRN DUE 2003
ISIN NO           :  XS0120236186
Issue Nominal GBP :  190,000,000.00
Period            :  15-OCT-2001  To  15-NOV-2001    Payment Date  15-NOV-2001 
Number of Days    :  31
Rate              :  0.16986301369         Pool Factor:  0.677807
Denomination GBP  :  6,778.07          10,000.00
Amount Payable
Per Denomination  :  11.51             16.39



Issue             :  MORTGAGES NO. 2 PLC - CLASS S - PRINCIPAL A
                     #6,130,500 MORTGAGE BACKED FRN DUE 15/12/2032
ISIN NO           :  XS0120238125
Issue Nominal GBP :  6,130,500.00  
Period            :  15-OCT-2001  To  15-NOV-2001    Payment Date  15-NOV-2001 
Number of Days    :  31
Rate              :  8.50625          Pool Factor:  0.314
Denomination GBP  :  157.00
Amount Payable
Per Denomination  :  1.13

From:
Institutional Trust Services           Telephone 44 (0) 1202 34 1286
                                       Facsimile 44 (0) 1202 34 7438



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