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STATEMENT:

On 30 November 2008, the High Court made an Administration order in relation to London Scottish Bank Plc (“the Company”) and Maggie Mills, Tom Jack, Simon Allport and I were appointed as Joint Administrators. The appointment was made by the Directors under the provisions of paragraph 12 of Schedule B1 to the Insolvency Act 1986.

The Company has not ceased to trade. The Administration is necessary because of the Company’s financial position and to ensure that it can continue to operate, and to ensure the best interests of customers and creditors are served.

Depositors will receive their money in full. They will need to apply to the Financial Services Compensation Scheme to receive their deposit. Further detail can be found on the FSCS website www.fscs.org.uk/consumer/ or by phoning 0207 892 7300.

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