48XS Granite Mas.05

    Granite Master Issuer Plc

RE: Granite Master Issuer Plc
    USD 1,000,000,000.00
    MATURING: 20/Aug/2054
    ISSUE DATE:31/Aug/2005
    ISIN: US38741YAM12

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20/Mar/2006 TO 20/Apr/2006 HAS BEEN FIXED AT 4.736250 PCT

DAY BASIS 31/360

INTEREST PAYABLE VALUE 20/Apr/2006 WILL AMOUNT TO:
USD 407.84 PER 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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