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GRANITE MORTGAGES 03-1 PLC


RE: GRANITE MORTGAGES 03-1 PLC
    GBP 41,000,000.00
    MATURING: 20/Jan/2043
    ISSUE DATE: 27/Jan/2003
    ISIN: XS0160703780

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
22/Jan/2007 TO 20/Apr/2007 HAS BEEN FIXED AT 7.058130 PCT.

DAY BASIS 88/365

INTEREST PAYABLE VALUE 20/Apr/2007 WILL AMOUNT TO
GBP 17.02 PER GBP 1,000.00 DENOMINATION.
GBP 170.17 PER GBP 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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