Exhibit 99.1

INVESTORS' MONTHLY REPORT
GRANITE FINANCE TRUSTEES LIMITED
Monthly Report re: Granite Mortgages 01-1 Plc, Granite Mortgages 02-1 Plc
Granite Mortgages 02-2 Plc, Granite Mortgages 03-1 Plc, Granite Mortgages 03-2 Plc, Granite Mortgages 03-3 Plc
Granite Mortgages 04-1 Plc, Granite Mortgages 04-2 Plc, Granite Mortgages 04-3 Plc, Granite Master Issuer Plc,
Granite Finance Funding Limited and Granite Finance Funding 2 Limited
Month ended	29-Feb-08
N.B. this data fact sheet and its notes can only be a summary of certain features of the bonds and their structure.
No representation can be made that the information herein is accurate or complete and no liability is accepted therefor.
Reference should be made to the issue documentation for a full description of the bonds and their structure. This
data fact sheet and its notes are for information purposes only and are not intended as an offer or invitation with
respect to the purchase or sale of any security. Reliance should not be placed on the information herein when
making any decision whether to buy, hold or sell bonds (or other securities) or for any other purpose.
Commentary on asset performance in the period
The assets within the Trust continue to exhibit strong performance.  The 3 month plus arrears have risen to 0.67%
by balance, but this continues to remain low by reference to industry standards.  Losses have continued to increase but remain at
low levels and at £11.49mm cumulative over 7 years are easily absorbed by the current month's excess spread.
Seasoning continues to increase and is currently almost 30 months.
Next trust determination date				3-Mar-08
Next trust distribution date				11-Mar-08
(6 business days from determination date)
Mortgage Loans
Number of Mortgage Loans in Pool				398,223
Current Balance - Trust Mortgage Assets				£46,348,968,603
Current Balance - Trust Cash and other Assets				£372,396,341
Last Months Closing Trust Assets				£48,209,581,196
Funding share				£6,508,980,635
Funding 2 share				£34,849,925,437
Funding and Funding 2 share				£41,358,906,072
Funding and Funding 2 Share Percentage				88.52%
Seller Share*				£5,362,458,872
Seller Share Percentage				11.48%
Minimum Seller Share (Amount)*				£3,672,113,242
Minimum Seller Share (% of Total)				7.86%
Funding Bank Balance - Principal element of Balance				£1,898,847,405
Funding 2 Bank Balance - Principal element of Balance				£1,395,450,185
Excess Spread last quarter annualised (% of Total)				0.34%
* Please see the Additional Notes to the Investor Reports
Arrears Analysis of Non Repossessed Mortgage Loans
	Number	Principal (£)	Arrears (£)	By number (%)	By Principal (%)
> = 1 < 2 Months	6,467	770,562,494	5,520,397	1.62%	1.66%
> = 2 < 3 Months	1,711	199,955,627	2,677,610	0.43%	0.43%
> = 3 < 4 Months	833	98,455,193	1,839,643	0.21%	0.21%
> = 4 < 5 Months	451	53,413,906	1,285,188	0.11%	0.12%
> = 5 < 6 Months	272	30,495,282	891,397	0.07%	0.07%
> = 6 < 7 Months	301	33,272,169	1,166,779	0.08%	0.07%
> = 7 < 8 Months	267	30,410,759	1,215,351	0.07%	0.07%
> = 8 < 9 Months	139	17,374,244	800,655	0.03%	0.04%
> = 9 < 10 Months	115	13,790,590	696,139	0.03%	0.03%
> = 10 < 11 Months	95	10,613,645	627,995	0.02%	0.02%
> = 11 < 12 Months	68	7,079,125	446,615	0.02%	0.02%
> = 12 < 13 Months	62	6,782,577	468,009	0.02%	0.01%
> = 13 < 14 Months	40	4,703,849	357,071	0.01%	0.01%
> = 14 < 15 Months	12	2,002,670	123,737	0.00%	0.00%
> = 15 < 16 Months	6	702,932	57,031	0.00%	0.00%
> = 16 < 17 Months	5	517,383	46,419	0.00%	0.00%
> = 17 < 18 Months	3	696,003	75,889	0.00%	0.00%
> = 18 < 19 Months	3	340,288	34,024	0.00%	0.00%
> = 19 < 20 Months	2	300,094	24,380	0.00%	0.00%
> = 20 < 21 Months	2	303,437	45,729	0.00%	0.00%
> = 21 < 22 Months	2	353,849	47,014	0.00%	0.00%
> = 22 < 23 Months	1	326,639	59,067	0.00%	0.00%
Total	10,857	1,282,452,755	18,506,139	2.73%	2.77%
Arrears are calculated in accordance with standard market practice in the UK.   A mortgage is identified as being in arrears when, on any due date, the overdue amounts which were due on previous due dates equal, in the aggregate, one or more full monthly payments.  In making an arrears determination, the administrator calculates as of the date of determination the difference between the sum of all monthly payments that were due and payable by a borrower on any due date up to that date of determination (less the aggregate amount of all authorised underpayments made by such borrower up to such date of determination) and the sum of all payments actually made by that borrower up to that date of determination.  If the result arrived at by dividing that difference (if any) by the amount of the required monthly payment equals or exceeds 1 the loan is deemed to be in arrears.  Arrears classification is determined based on the number of full monthly payments that have been missed.  A borrower that has missed payments that in the aggregate equal or exceeding 2 monthly payments (but for which the aggregate of missed payments is less than 3 monthly payments) would be classified as being between 2 - 3 months in arrears, and so on.
Properties in Possession
		Number	Principal (£)	Arrears (£)
Total (since inception)		4083	395,286,964	23,330,189
Properties in Possession				1124
Number Brought Forward				1048
Repossessed (Current Month)				169
Relinquished (Current Month)				21
Sold (since inception)				2959
Sold (current month)				72
Sale Price / Last Loan Valuation				103
Average Time from Possession to Sale (days)				156
Average Arrears at Sale				£5,154
Total Principal Loss (Since inception)				£11,490,493

Total Principal Loss (current month)	£732,827
Number of accounts experiencing a loss since inception	901
Ratio of aggregate net losses to average portfolio balance	0.00025
Average loss on accounts experiencing a loss	£12,753
MIG Claims Submitted	17
MIG Claims Outstanding	0
Average Time from Claim to Payment	84
Note: The arrears analysis and repossession information is at close of business for the report month

Substitution
			Number	Principal (£)
Substituted this period			0	£0
Substituted to date (since 26 March 2001)			1,063,063	£129,927,505,708
CPR Analysis
				% of CPR
Current Month % of CPR - Removals*				16.60%
Previous Month % of CPR - Removals*				20.90%
Current Month % of CPR - Non-Removals**				83.40%
Previous Month % of CPR - Non-Removals**				79.10%
*Removals are loans that Northern Rock has repurchased from the Trust (e.g. Further Advances and Product Switches)
**Non-Removals are scheduled repayments, overpayments and redemptions
			Monthly	Annualised
Current Month CPR Rate - Total			3.34%	33.46%
Previous Month CPR Rate - Total			2.98%	30.42%
Key pool statistics
Weighted Average Seasoning (by value) Months				29.74
Weighted Average Remaining Term (by value) Years				21.49
Average Loan Size				£116,389
Weighted Average LTV (by value)				76.90%
Weighted Average Indexed LTV (by value)				69.24%
Non Verified (by value)				44.13%
Product Breakdown
Fixed Rate (by balance)				55.06%
Together (by balance)				29.36%
Capped (by balance)				0.07%
Variable (by balance)				11.45%
Tracker (by balance)				4.06%
Total				100.0%
Geographic Analysis
	Number	% of Total	Value (£)	% of Total
East Anglia	9,100	2.29%	1,058,973,021	2.28%
East Midlands	29,864	7.50%	3,128,291,047	6.75%
Greater London	46,579	11.70%	8,593,094,343	18.54%
North	34,378	8.63%	2,699,963,193	5.83%
North West	49,893	12.53%	4,790,051,282	10.33%
Scotland	51,140	12.84%	4,234,153,481	9.14%
South East	63,366	15.91%	9,564,631,220	20.64%
South West	29,670	7.45%	3,866,800,612	8.34%
Wales	16,406	4.12%	1,610,678,936	3.48%
West Midlands	28,353	7.12%	3,113,132,736	6.72%
Yorkshire	39,474	9.91%	3,689,198,732	7.96%
Total	398,223	100%	46,348,968,603	100%
LTV Levels Breakdown
		Number	Value (£)	% of Total
0% < 25%		21,616	777,563,084	1.68%
> = 25% < 50%		51,619	4,299,891,333	9.28%
> = 50% < 55%		14,316	1,540,116,818	3.32%
> = 55% < 60%		15,733	1,815,708,920	3.92%
> = 60% < 65%		17,254	2,119,905,003	4.57%
> = 65% < 70%		19,791	2,525,651,232	5.45%
> = 70% < 75%		22,819	3,070,103,305	6.62%
> = 75% < 80%		26,477	3,747,046,972	8.08%
> = 80% < 85%		35,969	5,212,347,397	11.25%
> = 85% < 90%		58,209	7,599,350,724	16.40%
> = 90% < 95%		77,468	9,067,282,215	19.56%
> = 95% < 100%		34,097	4,258,717,785	9.19%
> = 100%		2,855	315,283,814	0.68%
Total		398,223	46,348,968,603	100.0%
Repayment Method
		Number	Value (£)	% of Total
Endowment		29,206	4,105,884,162	8.86%
Interest Only		93,479	14,773,084,714	31.87%
Pension Policy		268	24,241,145	0.05%
Personal Equity Plan		529	33,754,914	0.07%
Repayment		274,741	27,412,003,667	59.14%
Total		398,223	46,348,968,603	100.00%

Employment Status
	Number	Value (£)	% of Total
Full Time	335,353	36,907,239,302	79.63%
Part Time	5,117	406,090,156	0.88%
Retired	3,193	194,609,583	0.42%
Self Employed	49,525	8,433,816,024	18.20%
Other	5,035	407,213,538	0.88%
Total	398,223	46,348,968,603	100.00%
NR Current Existing Borrowers' SVR			7.59%
Effective Date of Change			1 March 2008
Main parties to the structure
Northern Rock plc	Citibank NA		The Bank of New York
Seller	Agent bank		Security trustee
Administrator	Common depositary		Note trustee
Cash Manager	Principal paying agent
Basis swap provider	Registrar
Start up loan provider	US Paying Agent
Account bank

Ratings
	Short Term	Long term	Short term	Long term	Short term	Long term
S&P	A1	A	A1+	AA	A-1+	AA-
Moodys	P-1	A2	P-1	Aa1	P-1	Aa2
Fitch	F1+	A-	F1+	AA+	F1+	AA-

Trustee Principal Ledger Receipts and Distribution
	Principal Received	Funding	Funding 2	Seller
Month	£1,561,368,180	£748,834,612	£550,189,256	£262,344,312
Principal receipts reflect actual cash amounts received in the month.  The distribution takes place on the 6th business day
after the trust determination date.
Trustee Revenue Ledger Receipts and Distribution
	Receipts
	Revenue Received	GIC Interest	sub-total	Administration fee	Available revenue
Month	£219,131,693	£6,235,284	£225,366,977	£2,708,786	£222,658,191
Trustee Revenue Distribution
		Funding	Funding 2	Seller
Month		£34,486,503	£163,613,692	£24,557,996
Revenue receipts reflect actual cash amounts received in the month.  The distribution takes place on the 6th business day
after the trust determination date.
On a monthly basis Trustee receipts are shared on a pro-rata basis between Northern Rock, Granite Finance Funding Limited and Granite Finance Funding 2 Limited in relation to their respective shares of the trust.  Granite Finance Funding will in turn distribute its revenue between the issuers (Granite Mortgages 01-1 plc to Granite Mortgages 04-3 plc).  Granite Finance Funding 2 Limited distributes its share of revenue to Granite Master Issuer plc in accordance with the underlying series of notes issued by Granite Master Issuer plc.
Granite Master Issuer Waterfall 18/19/20 February 2008
Distribution of Issuer Available Revenue Receipts			Total
Issuer available revenue receipts from Funding2			275,604,921
Issuer available revenue receipts - Issuers Revenue Ledger			5,625,984
Issuer available reserve fund			546,744,808
			827,975,713
Issuer required revenue receipts			275,604,921
3rd party creditors			0
Issuer cash manager			0
Amounts due to the  A notes and A swap providers			235,279,901
Amounts due to the  B notes and B note swap providers			8,297,663
Amounts due to the  M notes and M note swap providers			9,253,538
Amounts due to the  C notes and C note swap providers			10,102,759
Interest due on start-up loan (from Northern Rock plc)			1,778,392
Principal due on start-up loan			14,163,357
To fund issuer reserve fund			539,672,234
To fund funding reserve fund			7,072,574
To fund Series 05-1, 06-2, 06-3, 06-4 and 07-1 Payment Date			2,355,294
Excess of available revenue receipts over required receipts			14,163,357
Additional Notes to the Investor Reports
An "asset trigger event" is the event that occurs when an amount is debited to the principal deficiency sub-ledger in relation to the class A notes
of any Funding issuer or to the AAA principal deficiency sub-ledger of Funding 2.  Following an asset trigger event  controlled amortisation schedules will
no longer apply and the notes will become pass-through notes paying principal pro rata on the most senior outstanding notes and then sequential.
No asset trigger event has occurred
A "non-asset trigger event" means any of the following events:
·   an insolvency event occurs in relation to the seller;
·   the seller's role as administrator is terminated and a new administrator is not appointed within 60 days; or
· on the distribution date immediately succeeding a seller share event distribution date, the current seller share is equal to or less
than the minimum seller share (determined using the amounts of the current seller share and minimum seller share that would exist after making
the distributions of mortgages trustee principal receipts due on that distribution date
A "seller share event" will occur if, on a distribution date, (i) the result of the calculation of the current seller share on that distribution date
would be equal to or less than the minimum seller share for such distribution date (determined using the amounts of the current seller share and minimum
seller share that would exist after making the distributions of mortgages trustee principal receipts due on that distribution date
and (ii) a seller share event has not occurred on the immediately preceding distribution date).
No non-asset trigger event has occurred
A arrears trigger event will occur if the outstanding principal balance of 90+ day arrears in the trust exceed 2%. In the event
of an arrears trigger the Granite Mortgages 04-2 issuer reserve fund will step up to 1.415%, the Granite 04-3 issuer
reserve fund will step up to 1.38% and the Funding 2 reserve fund required amount increases by £37 million.
This trigger event is curable.
No arrears trigger event has occurred.
A step up trigger event will occur if any issuer is not called on its step up and call date. In the event
of an issuer non call trigger the Granite Mortgages 04-2 issuer reserve fund target will step up by 0.275%,
the Granite Mortgages 04-3 issuer reserve fund target by 0.27%, the Funding reserve target will step up by 0.10% and
the Funding 2 reserve fund required amount increases by £37 million. If the step up trigger occurs in conjunction with
an arrears trigger the Funding 2 Reserve Fund will increase by £74 million. If the breach is rectified only the Funding 2
reserve fund required amount will reduce to its original target.
No step up trigger event has occurred.
An accelerated controlled amortisation trigger will occur if any of the issuers are not called on their step up and call dates. In the
event of an accelerated controlled amortisation trigger all notes issued by Granite Mortgages 04-2 plc and Granite Mortgages 04-3 plc and
all series issued by Granite Master Issuer plc become pass through securities.
No accelerated controlled amortisation trigger has occurred.

In addition, no assignment of new mortgage loans may occur after the earlier to occur of:
·   a step-up date in respect of the notes of any Funding issuer, if the option to redeem such notes on that step-up date
	pursuant to the terms and conditions of such notes is not exercised; or
·   a step-up date in respect of any series and class of notes of the issuer, if the option to redeem any such notes on that
	step-up date pursuant to the terms and conditions of such notes is not exercised and the aggregate principal amount outstanding
	of such notes (together with any other notes of the issuer in respect of which the step-up date has passed) as at such step-up date
	exceeds £3,000,000,000; or
·   the date falling 12 months after the occurrence of a step-up date in respect of any series and class of notes of the issuer, if the option
	to redeem such notes by such date pursuant to the terms and conditions of such notes is not exercised.
All notes issued by Granite Master Issuer which have passed their step up and call date will pay principal and intyerest monthly.
All of the conditions for assigning new loans continue to be complied with.
Deferral of repayment of subordinated notes
Amortisation of subordinated notes will be deferred if:
·   the principal balance of mortgages in arrears is greater than 4%
·   Funding 2 plus Granite Master Issuer is less than the programme reserve required amount
·    debit balance on subordinate note PDL
None of the conditions leading to deferral of the subordinated notes has been met.
Legal proceedings
There are no material legal proceedings against Northern Rock plc, any of the Granite entities or the Trustee.

Notes	Granite Mortgages 01-1 plc
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected Maturity
						Moodys/S&P/Fitch
Series 1
A1		US387413 AA59	$0	$0	$0	Aaa/AAA/AAA	N/A	0.12%	0.00000	N/A
A2		US387413 AB33	$0	$0	$0	Aaa/AAA/AAA	N/A	0.21%	0.00000	N/A
B		US387413 AC16	$0	$0	$0	Aa2/AA+/AA+	N/A	0.40%	0.00000	N/A
C		US387413 AD98	$0	$0	$0	Baa1/A-/A-	N/A	1.40%	0.00000	N/A
Series 2
A		XS0126890390	£0	£0	£0	Aaa/AAA/AAA	N/A	0.24%	0.00000	N/A
B		XS0126890473	£0	£0	£0	Aa1/AA+/AA+	N/A	0.40%	0.00000	N/A
C		XS0126890556	£0	£0	£0	A3/A-/A-	N/A	1.40%	0.00000	N/A

Credit Enhancement
		% of Notes Outstanding
Class B Notes (£ Equivalent)	£0	0.00%
Class C Notes (£ Equivalent)	£0	0.00%
Granite Mortgages 01-1 Reserve Fund Requirement	£20,000,000	0.31%
Balance Brought Forward	£20,000,000	0.31%
Drawings this Period	£0	0.00%
Excess Spread this Period	£954,653	0.01%
Funding Reserve Fund Top-up this Period*	-£954,653	-0.01%
Pay Down of Reserve Fund	-£20,000,000	-0.31%
Current Balance	£0	0.00%
Funding Reserve Balance brought forward	£100,548,608	1.54%
Excess spread this period	£9,950,807	0.15%
Repayment of start up loan interest and principal	-£26,412,134	-0.41%
Funding reserve Balance carried forward	£84,087,281	1.29%
Funding Reserve %	1.0%	NA

Notes	Granite Mortgages 01-2 plc
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected Maturity
						Moodys/S&P/Fitch
Series 1
A		US38741PAA66	$0	$0	$0	Aaa/AAA/AAA	N/A	0.23%	0.00000	N/A
B		US38741PAB40	$0	$0	$0	Aa1/AA+/AA+	N/A	0.40%	0.00000	N/A
C		US38741PAC23	$0	$0	$0	Baa1/A-/A-	N/A	1.375%	0.00000	N/A
Series 2
A		XS0134454510	£0	£0	£0	Aaa/AAA/AAA	N/A	0.25%	0.00000	N/A
B		XS0134454866	£0	£0	£0	Aa1/AA+/AA+	N/A	0.42%	0.00000	N/A
C		XS0134455590	£0	£0	£0	Baa1/A-/A-	N/A	1.40%	0.00000	N/A
D		XS0134456218	£0	£0	£0	Baa3/BB+/BBB+	N/A	4.60%	0.00000	N/A
Credit Enhancement
						% of Notes Outstanding
Class B Notes (£ Equivalent)					£0	0.00%
Class C Notes (£ Equivalent)					£0	0.00%
Class D Notes					£0	0.00%
Granite Mortgages 01-2 Reserve Fund Requirement					£0	0.00%
Balance Brought Forward					£0	0.00%
Drawings this Period					£0	0.00%
Excess Spread this Period					£0	0.00%
Funding Reserve Fund Top-up this Period*					£0	0.00%
Pay Down of Reserve Fund					£0	0.00%
Current Balance					£0	0.00%
Funding Reserve Balance brought forward					£100,548,608	1.54%
Excess spread this period					£9,950,807	0.15%
Repayment of start up loan interest and principal					-£26,412,134	-0.41%
Funding reserve Balance carried forward					£84,087,281	1.29%
Funding Reserve %					1.0%	NA

Notes	Granite Mortgages 02-1 plc
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected Maturity
						Moodys/S&P/Fitch
Series 1
A1		US38741NAA19	$0	$0	$0	Aaa/AAA/AAA	N/A	0.10%	0.000000	N/A
A2		US38741NAB91	$0	$0	$0	Aaa/AAA/AAA	N/A	0.16%	0.000000	N/A
B		US38741NAD57	$0	$0	$0	Aa2/AA+/AA+	N/A	0.33%	0.000000	N/A
C		US38741NAC64	$0	$0	$0	Baa1/A-/BBB+	N/A	1.30%	0.000000	N/A
Series 2
A		XS0144804712	£0	£0	£0	Aaa/AAA/AAA	N/A	0.20%	0.000000	N/A
B		XS0144805958	£0	£0	£0	Aa1/AA+/AA+	N/A	0.35%	0.000000	N/A
C		XS0144806253	£0	£0	£0	Baa1/A-/BBB+	N/A	1.30%	0.000000	N/A
D		XS0144806501	£0	£0	£0	Baa3/BB+/BBB	N/A	4.50%	0.000000	N/A
Series 3
A		XS0144807657	€0	€0	€0	Aaa/AAA/AAA	N/A	Fixed to 04/07	0.000000	N/A
B		XS0144807491	€0	€0	€0	Aa1/AA+/AA+	N/A	0.35%	0.000000	N/A
C		XS0144807814	€0	€0	€0	Baa1/A-/BBB+	N/A	1.30%	0.000000	N/A
Credit Enhancement
						% of Notes Outstanding
Class B Notes (£ Equivalent)					£0	0.00%
Class C Notes (£ Equivalent)					£0	0.00%
Class D Notes					£0	0.00%
Granite Mortgages 02-1 Reserve Fund Requirement					£0	0.00%
Balance Brought Forward					£0	0.00%
Drawings this Period					£0	0.00%
Excess Spread this Perod					£0	0.00%
Funding Reserve Fund Top-up this Period*					£0	0.00%
Pay Down of Reserve Fund					£0	0.00%
Current Balance					£0	0.00%
Funding Reserve Balance brought forward					£100,548,608	1.54%
Excess spread this period					£9,950,807	0.15%
Repayment of start up loan interest and principal					-£26,412,134	-0.41%
Funding reserve Balance carried forward					£84,087,281	1.29%
Funding Reserve %					1.0%	NA

Notes	Granite Mortgages 02-2 plc
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected Maturity
						Moodys/S&P/Fitch
Series 1
A1		US38741RAA23	$0	$0	$0	Aaa/AAA/AAA	N/A	0.11%	0.000000	N/A
A2		US38741RAB06	$0	$0	$0	Aaa/AAA/AAA	N/A	0.18%	0.000000	N/A
B		US38741RAC88	$0	$0	$0	Aa2/AA+/AA+	N/A	0.37%	0.000000	N/A
C		US38741RAD61	$0	$0	$0	Baa1/A-/A-	N/A	1.25%	0.000000	N/A
Series 2
A		XS0153568638	€0	€ 0	€ 0	Aaa/AAA/AAA	N/A	0.19%	0.000000	N/A
B		XS0153568984	€0	€ 0	€ 0	Aa2/AA+/AA+	N/A	0.37%	0.000000	N/A
C		XS0153569289	€0	€ 0	€ 0	Baa1/A-/A-	N/A	1.25%	0.000000	N/A
Series 3
A		XS0153569792	£0	£0	£0	Aaa/AAA/AAA	N/A	0.19%	0.000000	N/A
B		XS0153569875	£0	£0	£0	Aa1/AA+/AA+	N/A	0.37%	0.000000	N/A
C		XS0153569958	£0	£0	£0	A3/A-/A-	N/A	1.25%	0.000000	N/A
Credit Enhancement
						% of Notes Outstanding
Class B Notes (£ Equivalent)					£0	0.00%
Class C Notes (£ Equivalent)					£0	0.00%
Granite Mortgages 02-2 Reserve Fund Requirement					£39,000,000	0.60%
Balance Brought Forward					£39,000,000	0.60%
Drawings this Period					£0	0.00%
Excess Spread this Period					£2,369,053	0.04%
Funding Reserve Fund Top-up this Period*					-£2,369,053	-0.04%
Pay Down of Reserve Fund					-£39,000,000	-0.60%
Current Balance					£0	0.00%
Funding Reserve Balance brought forward					£100,548,608	1.54%
Excess spread this period					£9,950,807	0.15%
Repayment of start up loan interest and principal					-£26,412,134	-0.41%
Funding reserve Balance carried forward					£84,087,281	1.29%
Funding Reserve %					1.0%	NA

Notes	Granite Mortgages 03-1 plc
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
Series 1
A1		US38741TAA88	$0		$0	P-1/A-1+/F1+	N/A	-0.01%	0.000000	N/A
A2		US38741TAB61	$55,843,803	$0	$55,843,803	Aaa/AAA/AAA	4.08%	0.19%	0.045590	Apr 08
A3**		US38741TAC45	$13,676,033	$0	$13,676,033	Aaa/AAA/AAA	N/A	0.40%	0.045590	Apr 08
B		US38741TAD28	$42,000,000	$0	$42,000,000	Aa2/AA+/AAA	4.32%	0.43%	1.000000	Apr 08
C		US38741TAE01	$56,000,000	$0	$56,000,000	Baa2/A-/A-	5.34%	1.45%	1.000000	Apr 08
Series 2
A		XS0160702113	€900,000,000	€0	€900,000,000	Aaa/AAA/AAA	4.65%	0.24%	1.000000	Apr 08
B		XS0160702204	€62,000,000	€0	€62,000,000	Aa2/AA+/AAA	4.84%	0.43%	1.000000	Apr 08
C		XS0160702386	€94,500,000	€0	€94,500,000	Baa2/A-/A-	5.86%	1.45%	1.000000	Apr 08
Series 3
A		XS0160703434	£665,000,000	£0	£665,000,000	Aaa/AAA/AAA	5.77%	0.24%	1.000000	Apr 08
B		XS0160703608	£31,000,000	£0	£31,000,000	Aa2/AA+/AAA	5.96%	0.43%	1.000000	Apr 08
C		XS0160703780	£41,000,000	£0	£41,000,000	Baa2/A-/A-	6.98%	1.45%	1.000000	Apr 08
** Reference rate is determined based on the avergae daily US Federal Funds rate and is calculated in arrears.
Credit Enhancement
						% of Notes Outstanding
Class B Notes (£ Equivalent)					£97,837,647	6.37%
Class C Notes (£ Equivalent)					£137,914,263	8.97%
Granite Mortgages 03-1 Reserve Fund Requirement					£45,000,000	0.69%
Balance Brought Forward					£45,000,000	0.69%
Drawings this Period					£0	0.00%
Excess Spread this Period					£2,883,383	0.04%
Funding Reserve Fund Top-up this Period*					-£2,883,383	-0.04%
Current Balance					£45,000,000	0.69%
Funding Reserve Balance brought forward					£100,548,608	1.54%
Excess spread this period					£9,950,807	0.15%
Repayment of start up loan interest and principal					-£26,412,134	-0.41%
Funding reserve Balance carried forward					£84,087,281	1.29%
Funding Reserve %					1.0%	NA

Notes	Granite Mortgages 03-2 plc
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
Series 1
A1		US38741QAA40	$0	$0	$0	Aaa/AAA/AAA	N/A	0.08%	0.000000	N/A
A2		US38741QAB23	$0	$0	$0	Aaa/AAA/AAA	N/A	0.16%	0.000000	N/A
A3		US38741QAC06	$406,129,028	$0	$406,129,028	Aaa/AAA/AAA	4.14%	0.25%	0.812258	Jul 10
B		US38741QAD88	$62,137,741	$0	$62,137,741	Aa1/AA+/AAA	4.38%	0.49%	0.812258	Jul 10
C		US38741QAE61	$8,528,710	$0	$8,528,710	Baa1/A-/A	5.44%	1.55%	0.812258	Jul 10
Series 2
A		XS0168665718	€243,677,417	€0	€243,677,417	Aaa/AAA/AAA	4.66%	0.25%	0.812258	Jul 10
B		XS0168666013	€59,213,612	€0	€59,213,612	Aa1/AA+/AAA	4.90%	0.49%	0.812258	Jul 10
M		XS0168771748	€42,481,096	€0	€42,481,096	Aa3/A+/AA+	5.16%	0.75%	0.812258	Jul 10
C1		XS0168666104	€16,000,000	€0	€16,000,000	Baa1/A-/A	5.20%	Fixed until 07/10	1.000000	Jul 10
C2		XS0168666443	€53,202,903	€0	€53,202,903	Baa1/A-/A	5.96%	1.55%	0.812258	Jul 10
Series 3
A		XS0168666526	£352,280,000	£0.00	£352,280,000	Aaa/AAA/AAA	4.625%	Fixed until 07/10	1.000000	Jul 10
C		XS0168666872	£12,183,871	£0.00	£12,183,871	Baa1/A-/A	7.08%	1.55%	0.812258	Jul 10

Credit Enhancement
		% of Notes Outstanding
Class B and M Notes (£ Equivalent)	£111,320,306	11.63%
Class C Notes (£ Equivalent)	£66,940,623	6.99%	All of the notes issued by Granite Mortgages 03-2 plc may be redeemed on the payment
			date falling in July 2008 and any payment date thereafter if the New Basel Capital Accord has been implemented in the United Kingdom.
Granite Mortgages 03-2 Reserve Fund Requirement	£35,000,000	0.54%
Balance Brought Forward	£35,000,000	0.54%
Drawings this Period	£0	0.00%
Excess Spread this Period	£1,869,800	0.03%
Funding Reserve Fund Top-up this Period*	-£1,869,800	-0.03%
Current Balance	£35,000,000	0.54%
Funding Reserve Balance brought forward	£100,548,608	1.54%
Excess spread this period	£9,950,807	0.15%
Repayment of start up loan interest and principal	-£26,412,134	-0.41%
Funding reserve Balance carried forward	£84,087,281	1.29%
Funding Reserve %	1.0%	NA
*Top-ups only occur at the end of each quarter.

Notes	Granite Mortgages 03-3 plc
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
Series 1
A1		US38741UAA51	$0	$0	$0	Aaa/AAA/AAA	N/A	0.08%	0.000000	N/A
A2		US38741UAB35	$0	$0	$0	Aaa/AAA/AAA	N/A	0.12%	0.000000	N/A
A3		US38741UAC18	$235,616,243	$0	$235,616,243	Aaa/AAA/AAA	4.09%	0.20%	0.471232	Jan 09
B		US38741UAD90	$54,903,664	$0	$54,903,664	Aa1/AA+/AAA	4.34%	0.45%	0.762551	Jan 09
M		US38741UAE73	$20,588,874	$0	$20,588,874	Aa3/A+/AA+	4.59%	0.70%	0.762551	Jan 09
C		US38741UAF49	$38,127,544	$0	$38,127,544	Baa1/A-/AA+	5.34%	1.45%	0.762551	Jan 09
Series 2
A		XS0176409927	€301,588,793	€0	€301,588,793	Aaa/AAA/AAA	4.60%	0.19%	0.471232	Jan 09
B		XS0176410180	€17,538,670	€0	€17,538,670	Aa1/AA+/AAA	4.86%	0.45%	0.762551	Jan 09
M		XS0176410347	€5,719,132	€0	€5,719,132	Aa3/A+/AA+	5.11%	0.70%	0.762551	Jan 09
C		XS0176410420	€41,940,299	€0	€41,940,299	Baa1/A-/A-	5.86%	1.45%	0.762551	Jan 09
Series 3
A		XS0176410693	£340,000,000	£0	£340,000,000	Aaa/AAA/AAA	5.72%	0.19%	1.000000	Jan 09
B		XS0176410776	£21,732,700	£0	£21,732,700	Aa1/AA+/AAA	5.98%	0.45%	0.762551	Jan 09
M		XS0176410859	£8,769,335	£0	£8,769,335	Aa3/A+/AA+	6.23%	0.70%	0.762551	Jan 09
C		XS0176411071	£5,719,132	£0	£5,719,132	Baa1/A-/A-	6.98%	1.45%	0.762551	Jan 09

Credit Enhancement
		% of Notes Outstanding
Class B and M Notes (£ Equivalent)	£93,547,216	11.02%
Class C Notes (£ Equivalent)	£58,646,755	6.91%	All of the notes issued by Granite Mortgages 03-3 plc may be redeemed on the payment
			date falling in July 2008 and any payment date thereafter if the New Basel Capital
			Accordhas been implemented in the United Kingdom.
Granite Mortgages 03-3 Reserve Fund Requirement	£33,400,000	0.51%
Balance Brought Forward	£33,400,000	0.51%
Drawings this Period	£0	0.00%
Excess Spread this Period	£1,873,918	0.03%
Funding Reserve Fund Top-up this Period*	-£1,873,918	-0.03%
Current Balance	£33,400,000	0.51%
Funding Reserve Balance brought forward	£100,548,608	1.54%
Excess spread this period	£9,950,807	0.15%
Repayment of start up loan interest and principal	-£26,412,134	-0.41%
Funding reserve Balance carried forward	£84,087,281	1.29%
Funding Reserve %	1.0%	NA

Notes	Granite Mortgages 04-1 plc
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
Series 1
A1		US38741VAA35	$0	$0	$0	P-1/A-1+/F1+	N/A	-0.04%	0.000000	N/A
A2		US38741VAB18	$0	$0	$0	Aaa/AAA/AAA	N/A	0.07%	0.000000	N/A
B		US38741VAC90	$0	$0	$0	Aa2/AA+/AA+	N/A	0.21%	0.000000	N/A
M		US38741VAE56	$0	$0	$0	Aa3/A+/AA	N/A	0.41%	0.000000	N/A
C		US38741VAD73	$0	$0	$0	A2/A-/BBB+	N/A	0.90%	0.000000	N/A
Series 2
A1		US38741VAF22	$829,000,000	$0	$829,000,000	Aaa/AAA/AAA	5.09%	0.16%	0.699578	Mar 09
A2		XS0184562816	€621,000,000	€0	€621,000,000	Aaa/AAA/AAA	5.04%	0.16%	0.690000	Mar 09
B		XS0184563111	€91,000,000	€0	€91,000,000	Aa2/AA+/AAA	5.22%	0.34%	1.000000	Mar 09
M		XS0184563541	€45,000,000	€0	€45,000,000	A1/A+/AA	5.45%	0.57%	1.000000	Mar 09
C		XS0184563897	€60,000,000	€0	€60,000,000	Baa1/A-/A-	5.95%	1.07%	1.000000	Mar 09
Series 3
A		XS0184565249	£414,000,000	£0	£414,000,000	Aaa/AAA/AAA	6.30%	0.16%	0.690000	Mar 09
B		XS0184566130	£23,000,000	£0	£23,000,000	Aa2/AA+/AAA	6.48%	0.34%	1.000000	Mar 09
M		XS0184566569	£10,000,000	£0	£10,000,000	A1/A+/AA	6.71%	0.57%	1.000000	Mar 09
C		XS0184567534	£20,000,000	£0	£20,000,000	Baa1/A-/A-	7.21%	1.07%	1.000000	Mar 09

Credit Enhancement
		% of Notes Outstanding
Class B and M Notes (£ Equivalent)	£126,793,103	8.55%
Class C Notes (£ Equivalent)	£61,379,310	4.14%	All of the notes issued by Granite Mortgages 04-1 plc may be redeemed on
			the paymentdate falling in June 2008 and any payment date thereafter if the New Basel apital Accord has been implemented in the United Kingdom.
Granite Mortgages 04-1 Reserve Fund Requirement	£60,000,000	0.92%
Balance Brought Forward	£60,000,000	0.92%
Drawings this Period	£0	0.00%
Excess Spread this Period	£3,400,716	0.05%
Funding Reserve Fund Top-up this Period*	-£3,400,716	-0.05%
Current Balance	£60,000,000	0.92%
Funding Reserve Balance brought forward	£100,548,608	1.54%
Excess spread this period	£9,950,807	0.15%
Repayment of start up loan interest and principal	-£26,412,134	-0.41%
Funding reserve Balance carried forward	£84,087,281	1.29%
Funding Reserve %	1.0%	NA

Notes	Granite Mortgages 04-2 plc
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
Series 1
A1		US38741WAA18	$0	$0	$0	Aaa/AAA/AAA	N/A	0.04%	0.000000	N/A
A2		US38741WAB90	$0	$0	$0	Aaa/AAA/AAA	N/A	0.07%	0.000000	N/A
B		US38741WAC73	$0	$0	$0	Aa2/AA+/AA	N/A	0.17%	0.000000	N/A
M		US38741WAD56	$0	$0	$0	A1/A+/A	N/A	0.28%	0.000000	N/A
C		US38741WAE30	$0	$0	$0	A3/A-/BBB+	N/A	0.70%	0.000000	N/A
Series 2
A1		XS0193212825	€792,316,357	€0	€792,316,357	Aaa/AAA/AAA	5.02%	0.14%	0.591281	Dec 10
A2		XS0193213807	£143,943,255	£0	£143,943,255	Aaa/AAA/AAA	6.28%	0.14%	0.589931	Dec 10
B		XS0193215414	€54,357,767	€0	€54,357,767	Aa3/AA+/AA+	5.15%	0.27%	0.590845	Dec 10
M		XS0193216578	€31,603,353	€0	€31,603,353	A2/A+/AA	5.28%	0.40%	0.590717	Dec 10
C		XS0193217030	€52,461,566	€0	€52,461,566	Baa1/A-/A-	5.68%	0.80%	0.589456	Dec 10
Series 3
A		XS0193218350	£752,100,000	£0	£752,100,000	Aaa/AAA/AAA	6.30%	0.16%	1.000000	Jun 11
B		XS0193218863	£38,900,000	£0	£38,900,000	Aa2/AA+/AA+	6.46%	0.32%	1.000000	Jun 11
M		XS0193219754	£26,500,000	£0	£26,500,000	A1/A+/AA	6.61%	0.47%	1.000000	Jun 11
C		XS0193220927	£48,500,000	£0	£48,500,000	Baa1/A-/A-	6.99%	0.85%	1.000000	Jun 11

Credit Enhancement
		% of Notes Outstanding
Class B and M Notes (£ Equivalent)	£123,876,952	7.54%
Class C Notes (£ Equivalent)	£84,188,140	5.12%	All of the notes issued by Granite Mortgages 04-2 plc may be redeemed on the payment
			date falling in June 2008 and any payment date thereafter if the New Basel Capital Accord
			has been implemented in the United Kingdom.
Granite Mortgages 04-2 Reserve Fund Requirement	£44,900,000	0.69%
Balance Brought Forward	£44,900,000	0.69%
Drawings this Period	£0	0.00%
Excess Spread this Period	£3,579,207	0.05%
Funding Reserve Fund Top-up this Period*	-£3,579,207	-0.05%
Current Balance	£44,900,000	0.69%
Funding Reserve Balance brought forward	£100,548,608	1.54%
Excess spread this period	£9,950,807	0.15%
Repayment of start up loan interest and principal	-£26,412,134	-0.41%
Funding reserve Balance carried forward	£84,087,281	1.29%
Funding Reserve %	1.0%	NA

Notes	Granite Mortgages 04-3 plc
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
Series 1
A1		US38741SAA06	$0	$0	$0	Aaa/AAA/AAA	N/A	0.06%	0.000000	N/A
A2		XS0201482766	€ 0	€ 0	€ 0	Aaa/AAA/AAA	N/A	0.07%	0.000000	N/A
A3		US38741SAB88	$0	$0	$0	Aaa/AAA/AAA	N/A	0.10%	0.000000	N/A
B		US38741SAC61	$0	$0	$0	Aa3/AA+/AA	N/A	0.16%	0.000000	N/A
M		US38741SAD45	$0	$0	$0	A2/A+/A	N/A	0.27%	0.000000	N/A
C		US38741SAE28	$0	$0	$0	Baa2/A-/BBB+	N/A	0.59%	0.000000	N/A
Series 2
A1		US38741SAF92	$462,815,989	$0	$462,815,989	Aaa/AAA/AAA	5.07%	0.14%	0.648474	Mar 10
A2		XS0201483228	€518,876,578	€0	€518,876,578	Aaa/AAA/AAA	5.02%	0.14%	0.648474	Mar 10
B		XS0201483657	€48,246,476	€0	€48,246,476	Aa1/AA+/AAA	5.16%	0.28%	0.648474	Mar 10
M		XS0201484036	€37,546,652	€0	€37,546,652	Aa3/A+/AA	5.25%	0.37%	0.648474	Mar 10
C		XS0201485355	€90,170,328	€0	€90,170,328	Baa2/A-/BBB+	5.68%	0.80%	0.648474	Mar 10
Series 3
A1		XS0201486320	£411,250,000	£0	£411,250,000	Aaa/AAA/AAA	6.32%	0.18%	1.000000	Sept 11
A2		XS0201565628	£600,000,000	£0	£600,000,000	Aaa/AAA/AAA	5.515%	Fixed until 09/2011	1.000000	Sept 11
B		XS0201486833	£54,350,000	£0	£54,350,000	Aa1/AA+/AAA	6.49%	0.35%	1.000000	Sept 11
M		XS0201487211	£42,250,000	£0	£42,250,000	Aa3/A+/AA	6.59%	0.45%	1.000000	Sept 11
C		XS0201487567	£99,450,000	£0	£99,450,000	Baa1/A-/BBB+	7.02%	0.88%	1.000000	Sept 11

Credit Enhancement
		% of Notes Outstanding
Class B and M Notes (£ Equivalent)	£155,161,862	8.00%
Class C Notes (£ Equivalent)	£160,999,712	8.30%	All of the notes issued by Granite Mortgages 04-3 plc may be redeemed on the payment
			date falling in June 2008 and any payment date thereafter if the New Basel Capital Accord
			has been implemented in the United Kingdom.
Granite Mortgages 04-3 Reserve Fund Requirement	£48,000,000	0.74%
Balance Brought Forward	£48,000,000	0.74%
Drawings this Period	£0	0.00%
Excess Spread this Period	£3,927,048	0.06%
Funding Reserve Fund Top-up this Period*	(3,927,048)	-0.06%
Current Balance	£48,000,000	0.74%
Funding Reserve Balance brought forward	£100,548,608	1.54%
Excess spread this period	£9,950,807	0.15%
Repayment of start up loan interest and principal	-£26,412,134	-0.41%
Funding reserve Balance carried forward	£84,087,281	1.29%
Funding Reserve %	1.0%	NA

Notes	Granite Master Issuer plc - Series 2005-1
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
A1		US38741YAA73	$0	$0	$0	Aaa/AAA/AAA	N/A	0.04%	0.000000	N/A
A2		XS0210928866	€ 0	€ 0	€ 0	Aaa/AAA/AAA	N/A	0.04%	0.000000	N/A
A3		US38741YAB56	$0	$0	$0	Aaa/AAA/AAA	N/A	0.08%	0.000000	N/A
A4		US38741YAC30	$1,100,000,000	$0	$1,100,000,000	Aaa/AAA/AAA	5.03%	0.10%	1.000000	Mar 10
A5		XS0210929161	€1,500,000,000	€0	€1,500,000,000	Aaa/AAA/AAA	4.97%	0.09%	1.000000	Mar 10
A6		XS0210925847	£750,000,000	£0	£750,000,000	Aaa/AAA/AAA	6.26%	0.12%	1.000000	Mar 12
B1		US38741YAD13	$0	$0	$0	Aa3/AA/AA	N/A	0.13%	0.000000	N/A
B2		XS0210929591	€ 80,000,000	€ 0	€ 80,000,000	Aa3/AA/AA	5.07%	0.19%	1.000000	Mar 10
B3		XS0210925920	£55,000,000	£0	£55,000,000	Aa3/AA/AA	6.33%	0.19%	1.000000	Mar 10
M1		US38741YAE95	$0	$0	$0	A2/A/A	N/A	0.23%	0.000000	N/A
M2		XS0210929757	€ 79,000,000	€ 0	€ 79,000,000	A2/A/A	5.16%	0.28%	1.000000	Mar 10
M3		XS0210926225	£55,000,000	£0	£55,000,000	A2/A/A	6.42%	0.28%	1.000000	Mar 10
C2		XS0210929914	€ 139,000,000	€ 0	€ 139,000,000	Baa2/BBB/BBB	5.436%	0.56%	1.000000	Mar 10
C3		XS0210926571	£60,000,000	£0	£60,000,000	Baa2/BBB/BBB	6.70%	0.56%	1.000000	Mar 10
All of the notes issued as part of series 2005-1 may be redeemed on the payment date falling in June 2008 and any payment date thereafter if the New Basel Capital Accord has been implemented in the United Kingdom.
Notes	Granite Master Issuer plc - Series 2005-2
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected Maturity
						Moodys/S&P/Fitch
A1		US38741YAF60	$0	$0	$0	Aaa/AAA/AAA	N/A	0.04%	0.000000	N/A
A2		XS0220176084	£0	£0	£0	Aaa/AAA/AAA	N/A	0.05%	0.000000	N/A
A3		XS0220174469	€0	€0	€0	Aaa/AAA/AAA	N/A	0.05%	0.000000	N/A
A4		US38741YAG44	$202,674,398	$202,674,398	$0	Aaa/AAA/AAA	3.15%	0.08%	0.000000	Feb 08
A5		XS0220174543	€800,000,000	€7,487,878	€792,512,122	Aaa/AAA/AAA	4.50%	0.14%	0.990640	May 10
A6		US38741YAH27	$1,250,000,000	$11,699,810	$1,238,300,190	Aaa/AAA/AAA	3.20%	0.13%	0.990640	May 10
A7		XS0220172257	£530,200,000	£0	£530,200,000	Aaa/AAA/AAA	5.81%	0.16%	1.000000	May 12
A8		XS0220486277	£250,000,000	£0	£250,000,000	Aaa/AAA/AAA	5.81%	0.16%	1.000000	May 12
B1		US38741YAJ82	$0	$0	$0	Aa3/AA/AA	N/A	0.14%	0.000000	N/A
B2		XS0220173909	€62,000,000	€0	€62,000,000	Aa3/AA/AA	4.56%	0.20%	1.000000	May 10
B3		XS0220175862	£35,100,000	£0	£35,100,000	Aa3/AA/AA	5.85%	0.20%	1.000000	May 10
M1		US38741YAK55	$0	$0	$0	A2/A/A	N/A	0.24%	0.000000	N/A
M2		XS0220172927	€70,000,000	€0	€70,000,000	A2/A/A	4.66%	0.30%	1.000000	May 10
M3		XS0220174972	£28,100,000	£0	£28,100,000	A2/A/A	5.97%	0.32%	1.000000	May 10
C1		US38741YAL39	$90,000,000	$0	$90,000,000	Baa2/BBB/BBB	3.57%	0.50%	1.000000	May 08
C2		XS0220173651	€131,700,000	€0	€131,700,000	Baa2/BBB/BBB	4.91%	0.55%	1.000000	May 10

Notes	Granite Master Issuer plc - Series 2005-3
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
A1		US38741YAM12	$1,000,000,000	$0	$1,000,000,000	Aaa/AAA/AAA	3.11%	0.00%	1.000000	Aug 10
Notes	Granite Master Issuer plc - Series 2005-4
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
A1		US38741YAN94	$0	$0	$0	Aaa/AAA/AAA	N/A	0.03%	0.000000	N/A
A2		XS0229614036	€0	€0	€0	Aaa/AAA/AAA	N/A	0.04%	0.000000	N/A
A3		US38741YAP43	$605,387,870	$232,800,850	$372,587,020	Aaa/AAA/AAA	3.14%	0.07%	0.373858	Aug 08
A5		XS0229614200	€1,357,300,000	€0	€1,357,300,000	Aaa/AAA/AAA	4.46%	0.10%	1.000000	Aug 10
A6		XS0229614465	£815,400,000	£0	£815,400,000	Aaa/AAA/AAA	5.77%	0.12%	1.000000	Aug 12
B1		US38741YAR09	$0	$0	$0	Aa3/AA/AA	N/A	0.12%	0.000000	N/A
B2		US38741YAS81	$38,500,000	$0	$38,500,000	Aa3/AA/AA	3.25%	0.18%	1.000000	Nov 08
B3		XS0229614549	£19,000,000	£0	£19,000,000	Aa3/AA/AA	5.83%	0.18%	1.000000	Aug 10
B4		XS0229614895	€56,900,000	€0	€56,900,000	Aa3/AA/AA	4.54%	0.18%	1.000000	Aug 10
M1		US38741YAT64	$0	$0	$0	A2/A/A	N/A	0.22%	0.000000	N/A
M2		US38741YAU38	$36,300,000	$0	$36,300,000	A2/A/A	3.35%	0.28%	1.000000	Nov 08
M3		XS0229614978	£30,000,000	£0	£30,000,000	A2/A/A	5.93%	0.28%	1.000000	Aug 10
M4		XS0229615272	€51,000,000	€0	€51,000,000	A2/A/A	4.64%	0.28%	1.000000	Aug 10
C1		US38741YAV11	$0	$0	$0	Baa2/BBB/BBB	N/A	0.43%	0.000000	N/A
C2		US38741YAW93	$44,600,000	$0	$44,600,000	Baa2/BBB/BBB	3.62%	0.55%	1.000000	Nov 08
C3		XS0229615439	£10,000,000	£0	£10,000,000	Baa2/BBB/BBB	6.20%	0.55%	1.000000	Aug 10
C4		XS0229615603	€76,100,000	€0	€76,100,000	Baa2/BBB/BBB	4.91%	0.55%	1.000000	Aug 10

Notes	Granite Master Issuer plc - Series 2006-1
	ISIN	ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
	Reg S	144A				Moodys/S&P/Fitch
A1	USG4144BE89	US38741YBG35	$775,189,109	$105,416,036	$669,773,073	Aaa/AAA/AAA	3.08%	-0.03%	0.862998	Nov 09
A2	XS0240602176	XS0240670413	€0	€0	€0	Aaa/AAA/AAA	N/A	0.04%	0.000000	N/A
A3	XS0240602507	XS0240670504	£0	£0	£0	Aaa/AAA/AAA	N/A	0.04%	0.000000	N/A
A4	USG41441BF54	US38741YBH18	$0	$0	$0	Aaa/AAA/AAA	N/A	0.04%	0.000000	N/A
A5	USG41441BG38	US38741YBJ73	$1,550,378,217	$210,832,072	$1,339,546,145	Aaa/AAA/AAA	3.14%	0.07%	0.862998	Nov 09
A6	XS0240602929	XS0240670686	€1,900,000,000	€0	€1,900,000,000	Aaa/AAA/AAA	4.46%	0.10%	1.000000	Feb 11
A7	XS0240603067	XS0240670843	£400,000,000	£0	£400,000,000	Aaa/AAA/AAA	5.77%	0.12%	1.000000	Feb 13
A8	XS024063653	XS0240671148	£950,000,000	£0	£950,000,000	Aaa/AAA/AAA	5.77%	0.12%	1.000000	Feb 13
B1	USG41441BH11	US38741YBK47	$0	$0	$0	Aa3/AA/AA	N/A	0.13%	0.000000	N/A
B2	USG41441BJ76	US38741YBL20	$84,100,000	$0	$84,100,000	Aa3/AA/AA	3.24%	0.17%	1.000000	May 10
B3	XS0240606169	XS0240671494	£25,000,000	£0	£25,000,000	Aa3/AA/AA	5.83%	0.18%	1.000000	Feb 11
B4	XS0240606755	XS0240671650	€94,500,000	€0	€94,500,000	Aa3/AA/AA	4.54%	0.18%	1.000000	Feb 11
M1	USG41441BK40	US38741YBM03	$0	$0	$0	A2/A/A	N/A	0.23%	0.000000	N/A
M2	USG41441BL23	US38741YBN85	$79,200,000	$0	$79,200,000	A2/A/A	3.36%	0.29%	1.000000	May 10
M3	XS0240607480	XS0240671734	£33,500,000	£0	£33,500,000	A2/A/A	5.95%	0.30%	1.000000	Feb 11
M4	XS0240607720	XS0240671817	€97,700,000	€0	€97,700,000	A2/A/A	4.66%	0.30%	1.000000	Feb 11
C2	USG41441BM06	US38741YBP34	$132,400,000	$0	$132,400,000	Baa2/BBB/BBB	3.67%	0.60%	1.000000	May 10
C3	XS0240608371	XS0240671908	£44,200,000	£0	£44,200,000	Baa2/BBB/BBB	6.25%	0.60%	1.000000	Feb 11
C4	XS0240608702	XS0240672039	€129,000,000	€0	€129,000,000	Baa2/BBB/BBB	4.96%	0.60%	1.000000	Feb 11

Notes	Granite Master Issuer plc - Series 2006-2
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
A1		US38741YBQ17	$0	$0	$0	Aaa/AAA/AAA	N/A	0.01%	0.000000	N/A
A2		XS0252419832	€0	€0	€0	Aaa/AAA/AAA	N/A	0.03%	0.000000	N/A
A3		XS0252425995	£0	£0	£0	Aaa/AAA/AAA	N/A	0.03%	0.000000	N/A
A4		US38741YBR99	$1,275,000,000	$0	$1,275,000,000	Aaa/AAA/AAA	3.93%	0.04%	1.000000	Jul 10
A5		XS0252421499	€1,360,000,000	€0	€1,360,000,000	Aaa/AAA/AAA	4.55%	0.10%	1.000000	Jul 11
A6		XS0252427009	£500,000,000	£0	£500,000,000	Aaa/AAA/AAA	5.68%	0.11%	1.000000	Jul 13
B1		US38741YBS72	$22,722,359	$0	$22,722,359	Aa3/AA/AA	3.97%	0.08%	0.783530	Apr 08
B2		US38741YBT55	$36,000,000	$0	$36,000,000	Aa3/AA/AA	4.03%	0.14%	1.000000	Jul 11
B3		XS0252428072	€37,500,000	€0	€37,500,000	Aa3/AA/AA	4.59%	0.14%	1.000000	Jul 11
M1		US38741YBU29	$19,588,241	$0	$19,588,241	A2/A/A	4.07%	0.18%	0.783530	Apr 08
M2		US38741YBV02	$25,000,000	$0	$25,000,000	A2/A/A	4.12%	0.23%	1.000000	Jul 11
M3		XS0252429047	€35,000,000	€0	€35,000,000	A2/A/A	4.68%	0.23%	1.000000	Jul 11
M4		XS0252423198	£10,000,000	£0	£10,000,000	A2/A/A	5.80%	0.23%	1.000000	Jul 11
C2		US38741YBW84	$75,000,000	$0	$75,000,000	Baa2/BBB/BBB	4.36%	0.47%	1.000000	Jul 11
C3		XS0252430136	€55,000,000	€0	€55,000,000	Baa2/BBB/BBB	4.92%	0.47%	1.000000	Jul 11
C4		XS0252423941	£12,000,000	£0	£12,000,000	Baa2/BBB/BBB	6.04%	0.47%	1.000000	Jul 11

Notes	Granite Master Issuer plc - Series 2006-3
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
A1		US38741YBX67	$224,760,000	$0	$224,760,000	Aaa/AAA/AAA	3.13%	0.02%	0.224760	Apr 08
A2		XS0267966959	€ 186,550,800	€0	€186,550,800	Aaa/AAA/AAA	4.486%	0.04%	0.224760	Jul 08
A3		US38741YBZ16	$1,800,000,000	$0	$1,800,000,000	Aaa/AAA/AAA	3.93%	0.04%	1.000000	Apr 10
A4		US38741YCA55	$1,000,000,000	$0	$1,000,000,000	Aaa/AAA/AAA	3.09%	-0.02%	1.000000	Oct 12
A5		XS0267967924	€ 1,250,000,000	€0	€1,250,000,000	Aaa/AAA/AAA	4.56%	0.11%	1.000000	Oct 12
A6		XS0267968658	£700,000,000	£0	£700,000,000	Aaa/AAA/AAA	5.68%	0.11%	1.000000	Oct 12
A7		US38741YCD94	$1,750,000,000	$0	$1,750,000,000	Aaa/AAA/AAA	3.99%	0.10%	1.000000	Oct 12
B1		US38741YCE77	$70,000,000	$0	$70,000,000	Aa3/AA/AA	3.98%	0.09%	1.000000	Oct 08
B2		US38741YCF43	$182,000,000	$0	$182,000,000	Aa3/AA/AA	4.06%	0.17%	1.000000	Oct 12
B3		XS0268037131	€ 30,000,000	€0	€30,000,000	Aa3/AA/AA	4.61%	0.16%	1.000000	Oct 12
M1		US38741YCJ64	$90,000,000	$0	$90,000,000	A2/A/A	4.07%	0.18%	1.000000	Oct 08
M2		US38741YCK38	$100,000,000	$0	$100,000,000	A2/A/A	4.17%	0.28%	1.000000	Oct 12
M3		XS0268038451	€ 47,000,000	€0	€47,000,000	A2/A/A	4.72%	0.27%	1.000000	Oct 12
M4		XS0268038964	£10,000,000	£0	£10,000,000	A2/A/A	5.84%	0.27%	1.000000	Oct 12
C2		US38741YCP25	$60,000,000	$0	$60,000,000	Baa2/BBB/BBB	4.39%	0.50%	1.000000	Oct 12
C3		XS0268039699	€ 137,000,000	€0	€137,000,000	Baa2/BBB/BBB	4.95%	0.50%	1.000000	Oct 12

Notes	Granite Master Issuer plc - Series 2006-4
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
A1		US38741YCS63	$246,842,435	$0	$246,842,435	Aaa/AAA/AAA	3.14%	0.03%	0.379758	Sep-08
A2		XS0275943958	€ 75,951,519	€ 0	€ 75,951,519	Aaa/AAA/AAA	4.916%	0.04%	0.379758	Sep-08
A3		XS0275944097	£132,915,157	£0	£132,915,157	Aaa/AAA/AAA	6.18%	0.04%	0.379758	Sep-08
A4		US38741YDB20	$704,300,000	$0	$704,300,000	Aaa/AAA/AAA	4.98%	0.05%	1.000000	Jun-10
A5		CA38741YDD81	CAD 350,000,000	CAD 0	CAD 350,000,000	Aaa/AAA/AAA	4.02%	0.07%	1.000000	Jun-10
A6		US38741YDC03	$1,130,000,000	$0	$1,130,000,000	Aaa/AAA/AAA	5.02%	0.09%	1.000000	Dec-11
A7		XS0275944766	€ 1,135,000,000	€ 0	€ 1,135,000,000	Aaa/AAA/AAA	4.99%	0.11%	1.000000	Dec-11
A8		XS0276823167	£300,000,000	£0	£300,000,000	Aaa/AAA/AAA	6.25%	0.11%	1.000000	Dec-11
B1		US38741YCV92	$60,600,000	$0	$60,600,000	Aa3/AA/AA	5.02%	0.09%	1.000000	Dec-08
B3		XS0275945730	€ 62,500,000	€ 0	€ 62,500,000	Aa3/AA/AA	5.07%	0.19%	1.000000	Dec-11
M1		US38741YCX58	$47,800,000	$0	$47,800,000	A2/A/A	5.10%	0.17%	1.000000	Dec-08
M2		US38741YCY32	$10,000,000	$0	$10,000,000	A2/A/A	5.22%	0.29%	1.000000	Dec-11
M3		XS0275946621	€ 84,400,000	€ 0	€ 84,400,000	A2/A/A	5.17%	0.29%	1.000000	Dec-11
C1		US38741YCZ07	$32,600,000	$0	$32,600,000	Baa2/BBB/BBB	5.31%	0.38%	1.000000	Dec-08
C2		US38741YDA47	$15,000,000	$0	$15,000,000	Baa2/BBB/BBB	5.41%	0.48%	1.000000	Dec-11
C3		XS0275947512	€ 62,800,000	€ 0	€ 62,800,000	Baa2/BBB/BBB	5.36%	0.48%	1.000000	Dec-11

Notes	Granite Master Issuer plc - Series 2007-1
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
1A1		US38741YDE68	$571,748,138	$0	$571,748,138	Aaa/AAA/AAA	3.14%	0.03000%	0.423517	Sep-08
1A3		XS0284070504	£190,582,713	£0	£190,582,713	Aaa/AAA/AAA	6.17%	0.03000%	0.423517	Sep-08
2A1		US38741YDF34	$1,450,000,000	$0	$1,450,000,000	Aaa/AAA/AAA	5.00%	0.07000%	1.000000	Jun-10
3A1		US38741YDG17	$1,500,000,000	$0	$1,500,000,000	Aaa/AAA/AAA	5.03%	0.10000%	1.000000	Jun-12
3A2		XS0284071908	€ 1,650,000,000	€ 0	€ 1,650,000,000	Aaa/AAA/AAA	4.98%	0.10000%	1.000000	Jun-12
4A1		US38741YDH99	$1,000,000,000	$0	$1,000,000,000	Aaa/AAA/AAA	5.04%	0.11000%	1.000000	Jun-12
5A1		XS0284076295	£650,000,000	£0	£650,000,000	Aaa/AAA/AAA	6.25%	0.11000%	1.000000	Jun-12
6A1		XS0284077186	£500,000,000	£0	£500,000,000	Aaa/AAA/AAA	5.60%	0.00000%	1.000000	Dec-13
1B1		US38741YDJ55	$84,000,000	$0	$84,000,000	Aa3/AA/AA	5.00%	0.07000%	1.000000	Jun-10
2B1		US38741YDK29	$80,000,000	$0	$80,000,000	Aa3/AA/AA	5.05%	0.12000%	1.000000	Dec-08
3B1		XS0284072468	€ 167,000,000	€ 0	€ 167,000,000	Aa3/AA/AA	5.05%	0.17000%	1.000000	Jun-12
3B2		XS0284073193	£25,000,000	£0	£25,000,000	Aa3/AA/AA	6.31%	0.17000%	1.000000	Jun-12
1M1		US38741YDL02	$84,000,000	$0	$84,000,000	A2/A/A	5.08%	0.15000%	1.000000	Dec-08
2M1		US38741YDM84	$80,000,000	$0	$80,000,000	A2/A/A	5.18%	0.25000%	1.000000	Jun-10
3M1		XS0284073607	€ 131,000,000	€ 0	€ 131,000,000	A2/A/A	5.15%	0.27000%	1.000000	Jun-12
3M2		XS0284074167	£40,000,000	£0	£40,000,000	A2/A/A	6.41%	0.27000%	1.000000	Jun-12
1C1		US38741YDN67	$94,600,000	$0	$94,600,000	Baa2/BBB/BBB	5.23%	0.30000%	1.000000	Dec-08
2C1		US38741YDP16	$30,000,000	$0	$30,000,000	Baa2/BBB/BBB	5.36%	0.43000%	1.000000	Jun-10
2C2		XS0284071221	€ 30,000,000	€ 0	€ 30,000,000	Baa2/BBB/BBB	5.33%	0.45000%	1.000000	Jun-10
3C1		XS0284081618	€ 265,000,000	€ 0	€ 265,000,000	Baa2/BBB/BBB	5.38%	0.50000%	1.000000	Jun-12
3C2		XS0284075560	£36,000,000	£0	£36,000,000	Baa2/BBB/BBB	6.64%	0.50000%	1.000000	Jun-12

Notes	Granite Master Issuer plc - Series 2007-2
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
Series 07-2 1A1		US38741YDQ98	$639,134,045	$0	$639,134,045	Aaa/AAA/AAA	3.15%	0.03000%	0.602957	Jan-09
Series 07-2 1A2		XS0298974337	€ 195,960,910	€ 0	€ 195,960,910	Aaa/AAA/AAA	4.58%	0.04000%	0.602957	Jan-09
Series 07-2 1A3		XS0298979138	£90,443,497	£0	£90,443,497	Aaa/AAA/AAA	5.64%	0.04000%	0.602957	Jan-09
Series 07-2 2A1		US38741YDR71	$1,025,000,000	$0	$1,025,000,000	Aaa/AAA/AAA	4.04%	0.04000%	1.000000	Jan-10
Series 07-2 2A2		CA38741YEC99	CAD 500,000,000	CAD 0	CAD 500,000,000	Aaa/AAA/AAA	4.06%	0.09000%	1.000000	Jul-10
Series 07-2 3A1		US38741YDS54	$1,100,000,000	$0	$1,100,000,000	Aaa/AAA/AAA	4.09%	0.09000%	1.100000	Apr-12
Series 07-2 3A2		XS0298974840	€ 1,000,000,000	€ 0	€ 1,000,000,000	Aaa/AAA/AAA	4.64%	0.10000%	1.000000	Apr-12
Series 07-2 4A1		US38741YDT38	$1,000,000,000	$0	$1,000,000,000	Aaa/AAA/AAA	3.10%	-0.02000%	1.000000	Jul-13
Series 07-2 4A2		XS0298980060	£650,000,000	£0	£650,000,000	Aaa/AAA/AAA	5.71%	0.11000%	1.000000	Jul-13
Series 07-2 1B1		US38741YDU01	$66,500,000	$0	$66,500,000	Aa3/AA/AA	4.08%	0.08000%	1.000000	Jan-09
Series 07-2 2B1		US38741YDV83	$53,500,000	$0	$53,500,000	Aa3/AA/AA	4.12%	0.12000%	1.000000	Jul-10
Series 07-2 3B1		US38741YDW66	$35,000,000	$0	$35,000,000	Aa3/AA/AA	4.16%	0.16000%	1.000000	Apr-12
Series 07-2 3B2		XS0298975813	€ 100,000,000	€ 0	€ 100,000,000	Aa3/AA/AA	4.70%	0.16000%	1.000000	Apr-12
Series 07-2 3B3		XS0298980813	£53,000,000	£0	£53,000,000	Aa3/AA/AA	5.76%	0.16000%	1.000000	Apr-12
Series 07-2 1M1		US38741YDX40	$64,000,000	$0	$64,000,000	A2/A/A	4.16%	0.16000%	1.000000	Jan-09
Series 07-2 2M1		US38741YDY23	$52,000,000	$0	$52,000,000	A2/A/A	4.24%	0.24000%	1.000000	Oct-10
Series 07-2 3M2		XS0298976621	€ 162,000,000	€ 0	€ 162,000,000	A2/A/A	4.83%	0.29000%	1.000000	Apr-12
Series 07-2 3M3		XS0298981621	£20,000,000	£0	£20,000,000	A2/A/A	5.89%	0.29000%	1.000000	Apr-12
Series 07-2 2C1		US38741YEA38	$50,000,000	$0	$50,000,000	Baa2/BBB/BBB	4.43%	0.43000%	1.000000	Oct-10
Series 07-2 2C2		XS0298977512	€ 52,000,000	€ 0	€ 52,000,000	Baa2/BBB/BBB	4.97%	0.43000%	1.000000	Oct-10
Series 07-2 3C2		XS0298978320	€ 84,500,000	€ 0	€ 84,500,000	Baa2/BBB/BBB	5.03%	0.49000%	1.000000	Apr-12
Series 07-2 3C3		XS0298984641	£60,000,000	£0	£60,000,000	Baa2/BBB/BBB	6.09%	0.49000%	1.000000	Apr-12
Notes	Granite Master Issuer plc - Series 2007-3
		ISIN	Brought forward	Repaid	Outstanding	Rating	Reference Rate	Margin	Pool factor	Expected maturity
						Moodys/S&P/Fitch
Series 07-3 1A		XS0320662751	£1,000,000,000.00	£259,226,261.00	£740,773,739.00	Aaa/AAA/AAA	6.05%	0.40000%	0.740774	May-09
Series 07-3 1B		XS0320662165	£40,500,000.00	£0.00	£40,500,000.00	Aa3/AA/AA	6.40%	0.75000%	1.000000	Nov-10
Series 07-3 1M		XS0320661191	£40,500,000.00	£0.00	£40,500,000.00	A2/A/A	6.90%	1.25000%	1.000000	Aug-09
Series 07-3 2A		XS0320662249	£3,600,000,000.00	£0.00	£3,600,000,000.00	Aaa/AAA/AAA	6.15%	0.50000%	1.000000	Nov-10
Series 07-3 2B		XS0320661357	£92,500,000.00	£0.00	£92,500,000.00	Aa3/AA/AA	6.65%	1.00000%	1.000000	Aug-09
Series 07-3 2M		XS0320663486	£119,000,000.00	£0.00	£119,000,000.00	A2/A/A	7.25%	1.60000%	1.000000	Nov-10
Series 07-3 2C		XS0320660037	£140,000,000.00	£0.00	£140,000,000.00	Baa2/BBB/BBB	7.90%	2.25000%	1.000000	Nov-10

Credit Enhancement for Granite Master Issuer plc
					% of Notes Outstanding
Class A Notes (£ Equivalent)				£32,256,445,633	88.99%
Class B Notes (£ Equivalent)				£1,241,438,819	3.43%
Class M Notes (£ Equivalent)				£1,263,168,609	3.49%
Class C Notes (£ Equivalent)				£1,484,322,554	4.10%
Subordination Levels
				Current	Required
Class A Notes				12.84%	11.60%
Class B Notes				9.41%	8.30%
Class M Notes				5.93%	5.11%
Class C Notes				1.83%	1.85%
Required subordination levels are taken from the Offering Circular Supplement dated January 20, 2006.  There is an additional Rating Agency allowance of 0.20% to current levels in recognition of excess spread.
Programme Reserve Required Percent					1.65%
Programme Reserve Required Amount				£638,425,000	1.83%
Balance Brought Forward				£638,425,000	1.83%
Drawings this Period				£0	0.00%
*Additions this period				£0	0.00%
Current Balance of Funding 2 & Granite Master Issuer Reserve Fund				£638,425,000	1.83%
Excess Spread this Period				£14,163,357	0.04%
Currency swap triggers
		S&P	Moody's	Fitch
Dollar and Euro currency swap agreements:
Initial downgrade trigger	Short term	A1+	P-1	F1
	Long term	N/A	A1	A1
Subsequent downgrade trigger	Short term	N/A	P-2	F2
	Long term	BBB-	A3	BBB+
Second subsequent downgrade	Short term	N./A	N/A	F3
	Long term	N/A	N/A	BBB-
Dollar and Euro currency swap providers:
ABN Amro Bank NV	Short term	A-1+	P-1	F1
	Long term	AA-	Aa3	AA-
Barclays Bank PLC	Short term	A-1+	P-1	F1
	Long term	AA+	Aa1	AA-
HSBC	Short term	A-1+	P-1	F1
	Long term	AA-	Aa2	AA
Citigroup Global markets Limited	Short term	A-1+	P-1	F1
	Long term	AA-	Aa1	AA+
Swiss Re	Short term	A-1+	P-1	A-1+
	Long term	AA	Aa2	AA
UBS AG	Short term	A-1+	P-1	N/A
	Long term	AA+	Aa2	N/A
AIG	Short term	Not applicable	Not applicable	Not applicable
	Long term	Not applicable	Not applicable	Not applicable