48AI Hsbc Bk. 28

    GRANITE MORTGAGES 03-3 PLC

RE: GRANITE MORTGAGES 03-3 PLC            
    USD 72,000,000.00
    MATURING: 20/Jan/2044
    ISSUE DATE: 24/Sep/2003
    ISIN: US38741UAD90

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
20/Apr/2006 TO 20/Jul/2006 HAS BEEN FIXED AT 5.530000 PCT. 

DAY BASIS 91/360

INTEREST PAYABLE VALUE 20/Jul/2006 WILL AMOUNT TO 
USD 13.98 PER USD 1,000.00 DENOMINATION. 
USD 139.79 PER USD 10,000.00 DENOMINATION. 
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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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