Granite Mortgages 03-1



Re:  GRANITE MORTGAGES 03-1 PLC
     EUR 94,500,000.00
     MATURING: 20-Jan-2043
     ISIN: XS0160702386

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
22-Jan-2008 TO 21-Apr-2008 HAS BEEN FIXED AT 5.861000 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 21-Apr-2008 WILL AMOUNT TO:
EUR 14.65 PER EUR 1,000.00 DENOMINATION
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