Granite Mort. 03-1


RE: Granite Mort. 03-1 PLC
    USD 300,000,000.00
    MATURING: 20/Jan/2020
    ISSUE DATE: 27/Jan/2003
    ISIN: US38741TAC45

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20/Oct/2006 TO 22/Jan/2007 HAS BEEN FIXED AT 5.648913 PCT.

DAY BASIS 94/360

INTEREST PAYABLE VALUE 22/Jan/2007 WILL AMOUNT TO
USD 3.87 PER USD 262.60 DENOMINATION.
USD 38.73 PER USD 2,625.97 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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