infact the two universities are quite close to each other, one follows the other, so its very helpful to let me know that ranking matters only when there is a big difference. I have two supervisors, and I have no clue whom they might be in both cases, ... I think i m going with my first choice..
Thank you all for helping me out

Cheers Jayney..
I am just confused because I dont know whether I am taking the right decision by giving up the higher ranked option.. Is ranking that important , if I want to pursue an academic career?
Thanks dear and good luck with your studies

I ve recieved an offer from one university along with funding , and I accepted it as I was soo happy with it by that time. A couple of weeks latter, I recieved another offer from another university which is slightly higher ranked but it is the world's number one in my field of research and it is also funded and they want my reply to the offer immediately! I didnt decline the new offer or accept it, however, I have to send my reply this weak.. I m very confused and dont know wat I should do..I am happy with my first choice as I know the Uni and I m quite familiar with it and I know for sure that I cant take my words back ... but meanwhile, the second offer is very lucrative...I am between familiarity in the first case and better ranking in the second case.. Any ideas or suggestions?