AL80 Citi Fun 26

    Granite Mortgages 02-1 PLC

RE: GRANITE MORTGAGES 02 1 PLC
USD 96,500,000.00
MATURING: 20-Apr-2042
ISSUE DATE: 20-Mar-2002
ISIN: US39741NAD57
                       
PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Jul-2005 TO 20-Oct-2005 HAS BEEN FIXED AT 4.920000 PCT

DAY BASIS 92/360

INTEREST PAYABLE VALUE 20-Oct-2005 WILL AMOUNT TO:
USD 125.73 PER USD 10,000.00 DENOMINATION
USD 1,257.33 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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