Granite Mort. 03-1


RE: Granite Mortgages 03-1 Plc
    USD 300,000,000.00
    MATURING: 20-Jan-2020
    ISSUE DATE: 27-Jan-2003
    ISIN: US38741TAC45

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Jul-2007 TO 22-Oct-2007 HAS BEEN FIXED AT 5.408370 PCT

DAY BASIS 94/360

INTEREST PAYABLE VALUE 22-Oct-2007 WILL AMOUNT TO:
USD 1.75 PER USD 124.19 DENOMINATION
USD 17.54 PER USD 1,241.93 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855
FAX: 44 20 7508 3866
Email: rate.fixing@citigroup.com
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