Granite Master Issuer


RE: GRANITE MASTER ISSUER PLC
    GBP 25,000,000.00
    MATURING: 20-Dec-2054
    ISSUE DATE: 25-Jan-2006
    ISIN: XS0240606169

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Nov-2006 TO 20-Feb-2007 HAS BEEN FIXED AT 5.405000 PCT

DAY BASIS 92/365

INTEREST PAYABLE VALUE 20-Feb-2007 WILL AMOUNT TO:
GBP 1,362.36 PER GBP 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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