RNS Number:9704E                    
Silver No.1 PLC
11 December 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 Rate has been determined as:  3.29000%
For the period:      15-Nov-02 to 16-Dec-02


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

EUR 157m Class A1B   63,606,895.89   3.77000%    31     206,492.72   1.31524  



Principal             Current       
Amount                Pool                  New Pool
Amortising            Factor                Factor

2,952,880.60          0.40513946426752      0.38633130757962


The next payment date will be on:
16-Dec-02
   
                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
RC BSBDDUSBGGDB

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