Granite Mortgages 03-2 PLC


Re:  GRANITE MORTGAGES 03-2 PLC
     USD 76500000
     MATURING: 20-Jul-2043
     ISIN: US38741QAD88

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Oct-2008 TO 20-Jan-2009 HAS BEEN FIXED AT 4.992500 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 20-Jan-2009 WILL AMOUNT TO:
USD 8.17 PER USD 640.02 DENOMINATION
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