Granite Mort. 03-2

RE: GRANITE MORTGAGES 03-2 PLC
    EUR 300,000,000.00
    MATURING: 20/Jul/2043
    ISSUE DATE: 21/May/2003
    ISIN: XS0168665718

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20/Apr/2006 TO 20/Jul/2006 HAS BEEN FIXED AT 3.019000 PCT.

DAY BASIS 91/360

INTEREST PAYABLE VALUE 20/Jul/2006 WILL AMOUNT TO:
EUR 7.63 PER EUR 1,000.00 DENOMINATION.
EUR 76.31 PER EUR 10,000.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 (0)20 7508 3858/3855 OR FAX: 44 (0)20 7508 3881
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