BW20030226002160  20030226T182335Z UTC


( BW)(EQUITY-RELEASE(NO.1))(04PZ) FRN Variable Rate Fix 

    Business Editors
    UK REGULATORY NEWS

    LONDON--(BUSINESS WIRE)--Feb. 26, 2003--

RE: EQUITY RELEASE FUNDING NO 2 PLC
    GBP 45,000,000 CLASS A1 MORTGAGE BACKED FLOATING RATE NOTES
    DUE: MAY 2027
    ISIN: XS0147705775

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
26FEB03 TO 27MAY03 HAS BEEN FIXED AT 4.12844 PCT PER ANNUM.

INTEREST PAYABLE VALUE 27MAY03 WILL AMOUNT TO:
GBP 10.00     PER GBP 982.30 DENOMINATION
GBP 100.00    PER GBP 9,823.00 DENOMINATION
GBP 999.95    PER GBP 98,230.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON 
TEL: 44 207 508 3857/3855 OR FAX: 44 207 508 3881

RATEFIX DESK
CITIBANK N.A., LONDON
 
   Short Name: Equity Release(No.1)
   Category Code: RC
   Sequence Number: 00002335
   Time of Receipt (offset from UTC): 20030226T165647+0000

    --30--tav/in

    CONTACT: Equity Release Funding (No.1) PLC
 

    KEYWORD: UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: BANKING
    SOURCE: Equity Release(No.1)

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