RNS Number:9287D
Preferred Residential Secs 3 PLC
18 November 2002



                              AMENDMENT

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

Issue                 :  Preferred Residential Securities 3 Plc - Class A
                         GBP113,500,000 Mortgage Backed FRN due 2033
ISIN                  :  XS0123849712
Issue Nomin GBP       :  113,500,000.00
Period                :  15-Nov-2002 to *17-Feb-2003*   Payment Date 17-Feb-2003
Number of Days        :  *94*
Rate                  :  4.42742        Pool Factor 0.5018
Denomination GB       :  5,018.00
Amount Payable        :  *57.22*
per Denomination



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


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