Northern Rock Launches Another Market Leading Online Savings Account

NEWCASTLE UPON TYNE, England, December 10, 2010 - Northern Rock has added a new online easy access savings account to its
range, e-saver (Issue 4). The account pays 3.00% gross* per annum for
deposits from GBP10,000 to GBP100,000.

E-saver (Issue 4) includes a bonus of 2.00% gross for the first 12 months
from opening. Account holders can choose to have their interest paid either
annually or month (monthly AER** is 2.74%).

This product compliments Northern Rock existing online savings
(www.northernrock.co.uk/savings/online-accounts/) offer, e-Saver
(Issue 3), which pays a flat 2.50% gross without any introductory bonus on
balances of only GBP1.

Withdrawals from E-saver (Issue 4) can be made via a nominated bank or
building society account without notice or charge (there is a GBP35 fee if
customers choose to transfer via CHAPS). The minimum withdrawal is GBP1 for
BACS transfers and GBP250 for withdrawals by CHAPS. Customers are able to
view their transaction history online.

Additional savings(www.northernrock.co.uk/savings/) deposits can
be made up to the maximum balance of GBP100,000 by electronic transfer from
other bank accounts, a transfer from other Northern Rock accounts or by
cheque. E-saver (Issue 4) is strictly a limited issue and will be withdrawn
without notice.

Where the balance falls below GBP10,000, interest will be earned at the
prevailing basic savings rate (
www.northernrock.co.uk/savings/saving-rates/), currently 0.10% gross
p.a.

Full product details can also be found at www.northernrock.co.uk.

Notes to Editors:

*GROSS is the rate of interest paid to eligible non-taxpayers without
deduction of tax. Please note interest will be paid net of tax unless
customers are eligible to receive interest gross and submit the required
registration form to Northern Rock.

**AER stands for Annual Equivalent Rate and shows what the interest rate
would be when interest is paid and added to the capital balance each year.

The new E saver issue 4 interest rate is effective from 9th December 2010
with a maximum balance per account of GBP100,000 and minimum of GBP10,000.

About Northern Rock:

Northern Rock plc is a new bank, authorised by the FSA as a
deposit taker and mortgage lender from 1 January 2010. It offers savings
accounts to customers in the UK and Ireland and mortgage products(
www.northernrock.co.uk/mortgages/) to UK borrowers. New products are
offered through both direct channels - including a national branch network -
and mortgage intermediaries.

Northern Rock continues to operate within the compensatory measures
agreed with the EC as part of the State Aid approval announced in October
2009.

Northern Rock plc - Registered in England and Wales (Company No.
6952311).

Authorised and regulated by the Financial Services Authority.

    Media Contact:

    Simon Hall
    Communications Manager
    Northern Rock House
    Gosforth
    Newcastle upon Tyne
    NE3 4PL
    +44(0)191-279-6090
    www.northernrock.co.uk

Media Contact: Simon Hall, Communications Manager, Northern Rock House, Gosforth, Newcastle upon Tyne, NE3 4PL, +44(0)191-279-6090, www.northernrock.co.uk