Granite Mortgages 03-1


RE: Granite Mortgages 03-1 PLC
    EUR 94,500,000.00
    MATURING: 20/Jan/2043
    ISSUE DATE: 27/Jan/2003
    ISIN: XS0160702386

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
22/Jan/2007 TO 20/Apr/2007 HAS BEEN FIXED AT 5.204000 PCT.

DAY BASIS 88/360

INTEREST PAYABLE VALUE 20/Apr/2007 WILL AMOUNT TO
EUR 12.72 PER EUR 1,000.00 DENOMINATION.
EUR 127.21 PER EUR 10,000.00 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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