Re:                                                                                               Granite Master Issuer
Plc
                                                                                                   GBP 25000000
                                                                                                   MATURING: 20-Dec-2054
                                                                                                   ISIN: XS0240606169
                                                                                                                            
 PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
 22-Dec-2008 TO 20-Jan-2009 HAS BEEN FIXED AT 2.475000 PCT
  
 DAY BASIS: ACTUAL/365(PROP)
  
 INTEREST PAYABLE VALUE 20-Jan-2009 WILL AMOUNT TO:
 GBP 196.46 PER GBP 100000 DENOMINATION
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