SAVINGS BANK ANNOUNCES CHANGES TO OFFSHORE INTEREST RATES

Offshore savings specialist Bradford & Bingley International (BBI) has announced new interest rates on its Sterling savings accounts with effect from 17th January 2009. The review of savings interest rates followed a decision by the Bank of England on 8th January 2008 to reduce base rate for the fourth month in a row to the lowest level in the Bank’s history at 1.50%.

Despite the recent reductions in Base Rate, savers with Bradford & Bingley International can earn up to 2.00% above base rate in eAccess2. eAccess2 is an internet based savings account developed primarily for the convenience of British Expats around the world and is currently paying an extremely attractive interest rate of 3.50% for annual interest. Monthly and deferred interest options are also available.

BBI’s Managing Director John Pearson commented: “Although the recent base rate reductions haven’t been good news for savers, we are pleased to maintain the competitive offer that eAccess2 represents.”

BBI is now part of Abbey and the Santander Group. Savers can be confident in Santander’s AA rating from Standard & Poor’s and that deposits with BBI are covered by the full guarantee of Abbey.

More information on eAccess2 and BBI’s latest savings rates can be found on BBI’s website, www.bbi.co.im or alternatively call +44 (0)1624 695000.

-Ends-

Note to editors: For further information, please contact BBI on +44 (0)1624 695000 or visit www.bbi.co.im

EU Savings Directive rules apply to EU resident depositors.

AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid to the account once a year.

Under Isle of Man legislation, deposits made with an Isle of Man office of Bradford & Bingley International Limited are covered by the Isle of Man Depositors Compensation Scheme.

Bradford & Bingley International Limited is registered in the Isle of Man No. 052221C. Registered Office: 30 Ridgeway Street, Douglas, Isle of Man, IM1 1TA, British Isles. Licensed by the Isle of Man Financial Supervision Commission to take deposits.

SOURCE: Bradford & Bingley International