57MM Paragon Bank 31

    


Granite Master Issuer


Re:  Granite Master Issuer Plc
     USD 52,200,000.00
     MATURING: 20-Dec-2054
     ISIN: US38741YBN85

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20-Aug-2008 TO 20-Nov-2008 HAS BEEN FIXED AT 3.10 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 20-Nov-2008 WILL AMOUNT TO:
USD 792.22 PER USD 100,000.00 DENOMINATION

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