GRANITE MORTGAGES 03-2 PLC


Re:  GRANITE MORTGAGES 03-2 PLC
     EUR 300000000
     MATURING: 20-Jul-2043
     ISIN: XS0168665718

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
21-Jul-2008 TO 20-Oct-2008 HAS BEEN FIXED AT 5.208000 PCT

DAY BASIS: ACTUAL/360

INTEREST PAYABLE VALUE 20-Oct-2008 WILL AMOUNT TO:
EUR 9.02 PER EUR 685.01 DENOMINATION
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