Granite Mortgages 03-1 PLC


Re:  GRANITE MORTGAGES 03-1 PLC
     USD 1,225,000,000.00
     MATURING: 20-Jan-2020
     ISIN: US38741TAB61

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
22-Oct-2007 TO 22-Jan-2008 HAS BEEN FIXED AT 5.370000 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 22-Jan-2008 WILL AMOUNT TO:
USD 1.16 PER USD 84.43 DENOMINATION
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