FRN Variable Rate Fix

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Name	Symbol	Market	Type
Granite Mas.a8s	LSE:73XN	London	Medium Term Loan

	Price Change	% Change	Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Traded	Last Trade
	0.00	0.00%							0	-

FRN Variable Rate Fix

23/12/2008 12:57pm

UK Regulatory

     Re:                                                                                                 Granite Master
Issuer Plc
                                                                                                     GBP 950000000
                                                                                                     MATURING:
20-Dec-2054
                                                                                                     ISIN: XS0240603653
                                                                                                                              
 PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
 22-Dec-2008 TO 20-Jan-2009 HAS BEEN FIXED AT 2.415000 PCT
  
 DAY BASIS: ACTUAL/365(PROP)
  
 INTEREST PAYABLE VALUE 20-Jan-2009 WILL AMOUNT TO:
 GBP 170.65 PER GBP 92956.56 DENOMINATION