Code:
create table t1 (f1 uniqueidentifier, f2 char(1))
go
insert t1 values (newid(), 'A')
go
select * from t1 where f2 = 'A'
go
declare @s varchar(36)
select @s = f1 from t1 where f2 = 'A'
set @s = '1' + substring(@s, 2, 35)
update t1 set f1 = @s where f2 = 'A'
go
select * from t1 where f2 = 'A'
go
drop table t1