RNS Number:9166S
Silver No.1 PLC
13 March 2002

RE: SILVER NO.1 PLC
EUR 157,000,000 Class A1B Mortgage Backed Floating Rate Notes due 2027
ISIN: XS0127264900

**RESENDING WITH PRINCIPAL REPAYMENT AMOUNT**

Please be advised that the EUR Deposit Interpolation Rate has been determined 
as:   3.33500%

For the period:   15-Feb-02    to 15-Mar-02


                          Beginning                                    Interest
                          Principal     All-in-           Interest       Factor
     Class              Outstanding        Rate    Days        Due    per 1,000

EUR 157m Class A1B    105,417,183.14    3.81500%    28   312,796.21    1.99233



   Principal       
      Amount             Current Pool                New Pool
  Amortising                   Factor                  Factor

Class A1B:           
4,108,542.80         0.67144702636943        0.64527796394904


The next payment date will be on:
15-Mar-02



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