Granite Mortgages 03-2 PLC


RE: GRANITE MORTGAGES 03-2 PLC
    USD 76,500,000.00
    MATURING: 20/Jul/2043
    ISSUE DATE: 21/May/2003
    ISIN: US38741QAD88

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
22/Jan/2007 TO 20/Apr/2007 HAS BEEN FIXED AT 5.850000 PCT.

DAY BASIS 88/360

INTEREST PAYABLE VALUE 20/Apr/2007 WILL AMOUNT TO
USD 14.30 PER USD 1,000.00 DENOMINATION.
USD 143.00 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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