GRANITE MORTGAGES 03-1 PLC



Re:  GRANITE MORTGAGES 03-1 PLC
     GBP 41,000,000.00
     MATURING: 20-Jan-2043
     ISIN: XS0160703780

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
22-Oct-2007 TO 22-Jan-2008 HAS BEEN FIXED AT 7.725630 PCT

DAY BASIS: ACTUAL/365(GBP)

INTEREST PAYABLE VALUE 22-Jan-2008 WILL AMOUNT TO:
GBP 19.42 PER GBP 1,000.00 DENOMINATION
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