IMHO, the criterion to meet is that you should have been working with your work permit for 5 years, which means holding the permit and being present in the UK to work. The truth is that your arrival has been on 26/8/2002, even it has not been stamped in your passport. I propose wait until 24/7/2007. Consider the case when you apply earlier, and somehow they ask you to provide the evidence of residency for the period prior to 26/8/2002, such as a utility or council tax bill, bank statement, etc.

Thanks a lot for your reply Peter, much appreciated.  will probably wait til July..cheers!

Folks, i'd appreciate if someone out there could help me with my query.

I got my UK visa stamp/work permit on 30th May 2002, however, I did not start my work in the UK(Northern Ireland) until 26th August 2002...i used to work in the republic of Ireland, therefore I do not have immigration stamp of arrival when I moved from republic of Ireland to Northern Ireland in August 2002 as there was no border check whatsoever... am I eligible to apply for ILR on 2nd of May 2007(28 days before the visa stamp)? or do I wait until 24th July 2007(28 days before I started my employment in the UK)? 

(btw, I passed the Life in the UK test quite recently as it is now a requirement for ILR)

many thanks for your help