BW20030217002130  20030217T160350Z UTC


( BW)(PREF-RESIDEN-SECS-3.)(BM48) FRN Variable Rate Fix  

    Business Editors
    UK REGULATORY NEWS

    LONDON--(BUSINESS WIRE)--Feb. 17, 2003--

As Agent Bank, please be advised of the following rate determined on: 17-Feb-2003      

Issue               : Preferred Residential Securities 3 Plc - Class A
                      GBP113,500,000 Mortgage Backed FRN due 2033              
ISIN Number         : XS0123849712
Issue Nomin     GBP : 113,500,000.00
Period              : 17-Feb-2003 to 15-May-2003          Payment Date 15-May-2003              
Number of Days      : 87
Rate                : 4.14                       Pool Factor: 0.4189
Denomination    GB  : 4,189.00

Amount Payable      : 41.34
per Denomination    

Institutional       Telephone   44(0) 1202 34 1286
Trust Services      Facsimile   44(0) 1202 34 7438

   Short Name: Pref Residen Secs 3.
   Category Code: RC
   Sequence Number: 00001973
   Time of Receipt (offset from UTC): 20030217T155933+0000

    --30--mh/uk*

    CONTACT: Preferred Residential Secs 3 PLC
 

    KEYWORD: UNITED KINGDOM INTERNATIONAL EUROPE
    INDUSTRY KEYWORD: BANKING
    SOURCE: Pref Residen Secs 3.

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