Granite Master Issuer PLC

RE: Granite Master Issuer Plc CLASS A1  
    USD 975,000,000.00
    MATURING: 20/Jun/2030
    ISSUE DATE: 25/May/2005
    ISIN: US38741YAF60

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
22/May/2006 TO 20/Jun/2006 HAS BEEN FIXED AT 5.120630 PCT.

DAY BASIS 29/360

INTEREST PAYABLE VALUE 20/Jun/2006 WILL AMOUNT TO
USD 155.85 PER USD 37,782.95 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 (0)20 7508 3858/3855 OR FAX: 44 (0)20 7508 3881.
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