GRANITE MORTGAGES 03-2 PLC


Re:  GRANITE MORTGAGES 03-2 PLC
     EUR 72900000
     MATURING: 20-Jul-2043
     ISIN: XS0168666013

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Oct-2008 TO 20-Jan-2009 HAS BEEN FIXED AT 5.580000 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 20-Jan-2009 WILL AMOUNT TO:
EUR 9.13 PER EUR 640.02 DENOMINATION
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