Granite Mortgages 02-1 PLC

RE: GRANITE MORTGAGES 02-1 PLC
    EUR 29,300,000.00
    MATURING: 20-Apr-2042
    ISSUE DATE: 20-Mar-2002
    ISIN: XS0144807814

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD 20-Jan-2004 TO
20-Apr-2004 HAS BEEN FIXED AT 3.376000 PCT.

INTEREST PAYABLE VALUE 20-Apr-2004 WILL AMOUNT TO 
EUR 85.34 PER EUR 10,000.00 DENOMINATION.
EUR 853.38 PER EUR 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.