AL80 Citi Fun 26

    Granite Mortgages 02-1 PLC

RE: GRANITE MORTGAGES 02-1 PLC
    USD 69,700,000.00
    MATURING: 20/Apr/2042
    ISSUE DATE: 20/Mar/2002
    ISIN: US38741NAC74

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20/Jul/2005 TO 20/Oct/2005 HAS BEEN FIXED AT 3.950000 PCT.

DAY BASIS 92/360

INTEREST PAYABLE VALUE 20/Oct/2005 WILL AMOUNT TO
USD 100.94 PER USD 10,000.00 DENOMINATION.
USD 1,009.44 PER USD 100,000.00 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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