RMAC 2002 NS1 PLC

As Agent Bank, please be advised of the following rate determined on:
14-Jun-2004

Issue               : RMAC 2002 NS1 Plc - Class C
                      GBP 3,800,000 Mortgage Backed FRN due 12 Jun 2034
ISIN Number         : XS0143668142
Common Code/        : 14366814
144A ISIN
Issue Nomin     GBP : 3,800,000.00
Period              : 14-Jun-2004 to 13-Sep-2004       Payment Date 13-Sep-2004
Number of Days      : 91
Rate                : *8.31375*             Pool Factor: 0.28750067
Denomination    GB  : 1,092,502.54

Amount Payable 
per Denomination    : *22,582.90*

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

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