GRANITE MORTGAGES 03-2 PLC


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/Jul/2007 TO 22/Oct/2007 HAS BEEN FIXED AT 4.471000 PCT.

DAY BASIS 94/360

INTEREST PAYABLE VALUE 22/Oct/2007 WILL AMOUNT TO
EUR 11.15 PER EUR 954.89 DENOMINATION.
EUR 111.48 PER EUR 9,548.91 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 (0)20 7508 3858/3855
FAX: 44 (0)20 7508 3866
Email: rate.fixing@citigroup.com
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