RNS Number:2605X
Silver No.1 PLC
14 June 2002



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:  3.37500%
For the period:   17-Jun-02    to 15-Jul-02


                      Beginning Principal
Class                     Outstanding        All-in-Rate   Days   Interest Due  Factor per 1,000

EUR 157m Class A1B        94,032,583.59        3.85500%      28    281,941.03     1.79580
                                                                   
The next payment date will be on:
15-Jul-02



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