Re:                                                                                             Granite Master Issuer
Plc
                                                                                                 USD 20000000
                                                                                                 MATURING: 20-Dec-2054
                                                                                                 ISIN: USG41441BJ76
                                                                                                                          
 PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
 22-Dec-2008 TO 20-Jan-2009 HAS BEEN FIXED AT 0.677500 PCT
  
 DAY BASIS: ACTUAL/360
  
 INTEREST PAYABLE VALUE 20-Jan-2009 WILL AMOUNT TO:
 USD 54.58 PER USD 100000 DENOMINATION
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