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
22/Jan/2007 TO 20/Apr/2007 HAS BEEN FIXED AT 5.540000 PCT.

DAY BASIS 88/360

INTEREST PAYABLE VALUE 20/Apr/2007 WILL AMOUNT TO
USD 1,354.22 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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