RMAC 2002 NS1 PLC

As Agent Bank, please be advised of the following rate determined on:14-Mar-2005

Issue               : RMAC 2002 NS1 plc - Class A3
                      GBP60,000,000 Mortgage Backed FRN Due 12 Jun 2034
ISIN Number         : XS0143681055
Common Code/
144A ISIN           : 14366105
Issue Nomin     GBP : 60,000,000.00
Period              : 14-Mar-2005 to 13-Jun-2005      Payment Date 13-Jun-2005 
Number of Days      : 91
Rate                : 5.31
Denomination    GB  : 60,000,000.00
Amount Payable 
per Denomination    : 794,317.81

Rate Fix Desk                     Telephone   44(0) 1202 34 1286
Institutional Trust Services      Facsimile   44(0) 1202 34 1267

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