TIDM56RD 
 
 
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-Jun-2012 TO 20-Sep-2012 HAS BEEN FIXED AT 1.30 PCT 
DAY BASIS: ACTUAL/365(GBP) 
INTEREST PAYABLE VALUE 20-Sep-2012 WILL AMOUNT TO: 
GBP 50.60 PER GBP 15,511.62 DENOMINATION
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