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
20-May-2008 TO 20-Jun-2008 HAS BEEN FIXED AT 3.075000 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 20-Jun-2008 WILL AMOUNT TO:
USD 0.02 PER USD 7.65 DENOMINATION
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