32AR Granite Mas.a1

    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
20-Jun-2006 TO 20-Jul-2006 HAS BEEN FIXED AT 5.306880 PCT

DAY BASIS 30/360

INTEREST PAYABLE VALUE 20-Jul-2006 WILL AMOUNT TO:
USD 167.09 PER USD 37,782.95 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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