RNS Number:6486Y
Mortgages No 2 PLC
15 July 2002


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

Issue             :  MORTGAGES NO 2 PLC - CLASS A
                     £190,000,000 MORTGAGE BACKED FRN DUE 15/12/2032
ISIN Number       :  XS012022646
Issue Nominal GBP :  190,000,000.00
Period            :  15-JUL-2002  To  15-AUG-2002    Payment Date  15-AUG-2002 
Number of Days    :  31
Rate              :  4.35813                  Pool Factor:     0.398507
Denomination  GBP :  3,985.07     10,000.00
Amount Payable
Per Denomination  :  14.75        3.56
        

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



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

Issue             :  MORTGAGES NO 2 PLC - CLASS B
                     £18,500,000 MORTGAGE BACKED FRN DUE 15/12/2032
ISIN Number       :  XS0120229132
Issue Nominal GBP :  18,500,000.00
Period            :  15-JUL-2002  To  15-AUG-2002    Payment Date  15-AUG-2002 
Number of Days    :  31
Rate              :  6.83813                  Pool Factor:     0.997607
Denomination  GBP :  9,976.07     10,000.00
Amount Payable
Per Denomination  :  57.94        75.37
        

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

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

Issue             :  MORTGAGES NO 2 PLC - CLASS A DETACHABLE COUPONS
                     £190,000,000 MORTGAGE BACKED FRN DUE 2003
ISIN Number       :  XS0120236186
Issue Nominal GBP :  190,000,000.00
Period            :  15-JUL-2002  To  15-AUG-2002    Payment Date  15-AUG-2002 
Number of Days    :  31
Rate              :  0.1698630137                  Pool Factor:     0.398507
Denomination  GBP :  3,985.07     10,000.00
Amount Payable
Per Denomination  :  6.77         16.39
        

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


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

Issue             :  MORTGAGES NO 2 PLC - CLASS M
                     £11,500,000 MORTGAGE BACKED FRN DUE 15/12/2032
ISIN Number       :  XS012027862
Issue Nominal GBP :  11,500,000.00
Period            :  15-JUL-2002  To  15-AUG-2002    Payment Date  15-AUG-2002 
Number of Days    :  31
Rate              :  4.83813                  Pool Factor:     0.997607
Denomination  GBP :  9,976.07   10,000.00
Amount Payable
Per Denomination  :  40.99      58.43
        

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




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

Issue             :  MORTGAGES NO 2 PLC - CLASS S - PRINCIPAL B
                     £6,130,500 MORTGAGE BACKED FRN DUE 15/12/2032
ISIN Number       :  XS0120238125
Issue Nominal GBP :  6,130,500.00
Period            :  15-JUL-2002  To  15-AUG-2002    Payment Date  15-AUG-2002 
Number of Days    :  31
Rate              :  7.93813           Pool Factor:     0.6487
Denomination  GBP :  324.35       10,000.00     100,000.00
Amount Payable
Per Denomination  :  2.19         68.70         686.96


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

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