Granite Master Issuer


RE: GRANITE MASTER ISSUER PLC
    USD 95,000,000.00
    MATURING: 20-Dec-2054
    ISSUE DATE: 25-May-2005
    ISIN: US38741YAK55

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Nov-2006 TO 20-Feb-2007 HAS BEEN FIXED AT 5.615000 PCT

DAY BASIS 92/360

INTEREST PAYABLE VALUE 20-Feb-2007 WILL AMOUNT TO:
USD 1,434.94 PER USD 100,000.00 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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