Granite Mortgages 03-1 PLC


Re:  GRANITE MORTGAGES 03-1 PLC
     EUR 62,000,000.00
     MATURING: 20-Jan-2043
     ISIN: XS0160702204

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
21-Apr-2008 TO 20-May-2008 HAS BEEN FIXED AT 5.644000 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 20-May-2008 WILL AMOUNT TO:
EUR 4.55 PER EUR 1,000.00 DENOMINATION
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