LONDON--()--
| Re: | GRANITE MORTGAGES 04-03 PLC |
| GBP 600,000,000.00 | |
| MATURING: 20-Sep-2044 | |
| ISIN: XS0201565628 | |
| PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD | |
| 20-Dec-2012 TO 20-Mar-2013 HAS BEEN FIXED AT 0.897500 PCT | |
| DAY BASIS: ACTUAL/365(GBP) | |
| INTEREST PAYABLE VALUE 20-Mar-2013 WILL AMOUNT TO: | |
| GBP 30.11 PER GBP 13,606.06 DENOMINATION | |

