RNS Number:3726H
Silver No.1 PLC
11 February 2003



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:    2.85300%
For the period:          15-Jan-03         to      17-Feb-03


                      Beginning Principal                                         Interest
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

Principal Amount    Current Pool    
   Amortising          Factor         New Pool Factor 

  Class A1B:
5,688,252.47       0.37882791738854  0.34259700993631  

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



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