Granite Mortgages 03-2 PLC


RE: GRANITE MORTGAGES 03-2 PLC
    USD 500,000,000.00
    MATURING: 20-Jul-2043
    ISSUE DATE: 21-May-2003
    ISIN: US38741QAC06

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Oct-2006 TO 22-Jan-2007 HAS BEEN FIXED AT 5.623750 PCT

DAY BASIS 94/360

INTEREST PAYABLE VALUE 22-Jan-2007 WILL AMOUNT TO:
USD 14.68 PER USD 1,000.00 DENOMINATION
USD 146.84 PER USD 10,000.00 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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