RNS Number:1130T
Mortgages No 2 PLC
15 March 2002

As Agent Bank, please be advised of the following rate determined on: 
15-MAR-2002.

Issue             :  MORTGAGES NO 2 PLC - CLASS B
                     £18,500,000 MORTGAGE BACKED FRN DUE 15/12/2032
ISIN NO           :  XS0120229132
Issue Nominal GBP :  18,500,000.00
Period            :  15-MAR-2002  To  15-APR-2002    Payment Date  15-APR-2002 
Number of Days    :  31
Rate              :  6.97625       POOL FACTOR: 0.997607
Denomination GB   :  9,976.07      10,000.00
Amount Payable
Per Denomination  :  59.11         75.37

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



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