Granite Mortgages 03-2 PLC

RE: GRANITE MORTGAGES 03-2 PLC
    EUR 65,500,000.00
    MATURING: 20/Jul/2043
    ISSUE DATE: 21/May/2003
    ISIN: XS0168666443

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20/Apr/2006 TO 20/Jul/2006 HAS BEEN FIXED AT 4.319000 PCT.

DAY BASIS 91/360

INTEREST PAYABLE VALUE 20/Jul/2006 WILL AMOUNT TO
EUR 10.92 PER EUR 1,000.00 DENOMINATION.
EUR 109.17 PER EUR 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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