GRANITE MORTGAGES 03-2 PLC


Re:  GRANITE MORTGAGES 03-2 PLC
     EUR 300000000
     MATURING: 20-Jul-2043
     ISIN: XS0168665718

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Oct-2008 TO 20-Jan-2009 HAS BEEN FIXED AT 5.340000 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 20-Jan-2009 WILL AMOUNT TO:
EUR 8.46 PER EUR 619.76 DENOMINATION
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