Granite Mort. 03-1


Re:  GRANITE MORTGAGES 03-1 PLC
     USD 300,000,000.00
     MATURING: 20-Jan-2020
     ISIN: US38741TAC45

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
22-Oct-2007 TO 22-Jan-2008 HAS BEEN FIXED AT 4.806522 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 22-Jan-2008 WILL AMOUNT TO:
USD 1.04 PER USD 84.43 DENOMINATION
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