RNS Number:1756X
Mortgages No 1 PLC
12 January 2001




To:   Company Announcements Office

As Agent Bank, please be advised of the following rate determined on the
12/JAN/2001.

Issue:            MORTGAGES NO 1 PLC - SERIES B
                  #13,500,000 MORTGAGE BACKED FRN DUE APRIL 2033

ISIN NO:          XS0111091871
Issue Nominal GBP 13,500,000.00    
Period:           12/JAN/2001    To   12/APR/2001     Payment Date 12-APR-2001
Number of Days:   90
Rate:             8.88375                       
Denomination EUR: 10,000.00       1,000,000.00
Amount Payable
Per Denomination: 230.82

From:
Steven Coutts                           Telephone 44 (0) 1202 34 1286
Capital Markets Fiduciary Services      Facsimile 44 (0) 1202 34 7438



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