BW20030217002124  20030217T154630Z 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 M
                      GBP11,500,000 Mortgage Backed FRN due 2033

ISIN Number         : XS0123850058
Issue Nomin     GBP : 11,500,000.00
Period              : 17-Feb-2003 to 15-May-2003          Payment Date 15-May-2003                                              
Number of Days      : 87
Rate                : 5
Denomination    GB  : 10,000.00

Amount Payable      : 119.18
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: 00001969
   Time of Receipt (offset from UTC): 20030217T154157+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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