32AR Granite Mas.a1

    Granite Master Issuer PLC

RE: Granite Master Issuer Plc CLASS A1
    USD 975,000,000.00
    MATURING: 20/Jun/2030
    ISSUE DATE: 25/May/2005
    ISIN: US38741YAF60

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
21/Sep/2006 TO 20/Oct/2006 HAS BEEN FIXED AT 5.370000 PCT.

DAY BASIS 30/360

INTEREST PAYABLE VALUE 20/Oct/2006 WILL AMOUNT TO
USD 106.48 PER USD 23,794.00 DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 (0)20 7508 3858/3855 OR FAX: 44 (0)20 7508 3881.

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