Granite Master Issuer Plc

RE: GRANITE MASTER ISSUER PLC

    USD 996,600,000.00
    MATURING: 20-Dec-2054
    ISSUE DATE: 21-Sep-2005
    ISIN: US38741YAP43

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD

20-Nov-2006 TO 20-Feb-2007 HAS BEEN FIXED AT 5.445000 PCT


DAY BASIS 92/360


INTEREST PAYABLE VALUE 20-Feb-2007 WILL AMOUNT TO:

USD 1,391.50 PER USD 100,000.00 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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