Granite Mortgages 02-1 PLC

RE: GRANITE MORTGAGES 02-1 PLC
    GBP 16,200,000.00
    MATURING: 20-Apr-2042
    ISSUE DATE: 20-Mar-2002
    ISIN: XS0144805958

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Oct-2003 TO 20-Jan-2004 HAS BEEN FIXED AT 4.122500 PCT.

INTEREST PAYABLE VALUE 20-Jan-2004 WILL AMOUNT TO
GBP 103.62 PER GBP 10,000.00 DENOMINATION.
GBP 1,036.25 PER GBP 100,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 020 7508 3858/3855 OR FAX: 44 020 7508 3881.