Granite Master Issuer

RE: GRANITE MASTER ISSUER PLC
USD 25,000,000.00
MATURING: 20-Dec-2054
ISSUE DATE: 24-May-2006
ISIN: US38741YBU29

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
24-May-2006 TO 20-Jul-2006 HAS BEEN FIXED AT 5.320630 PCT

DAY BASIS 57/360

INTEREST PAYABLE VALUE 20-Jul-2006 WILL AMOUNT TO:
USD 842.43 PER USD 100,000.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881
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