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
20-Oct-2006 TO 22/Jan/2006 HAS BEEN FIXED AT 5.553750 PCT

DAY BASIS 94/360

INTEREST PAYABLE VALUE 22-Jan-2007 WILL AMOUNT TO:
USD 1,450.15 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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