RNS Number:0866G
Silver No.1 PLC
13 January 2003


RE: SILVER NO. 1 PLC

EUR 157,000,000 Class A1B Mortgage Backed Floating Rate Notes due 2027
ISIN: XS0127264900

Please be advised that the EUR Deposit Rate has been determined as:    2.85300%
For the period:          15-Jan-03         to      17-Feb-03


                      Beginning Principal
Class                    Outstanding         All-in-Rate     Days   Interest Due  Factor per 1.000

EUR 157m Class A1B      59,475,983.03         3.33300%        33     181,714.00    1.15741


The next payment date will be on:
17-Feb-03


                      This information is provided by RNS
            The company news service from the London Stock Exchange

END

RC BSGDBXXBGGXX

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