Northern Rock Launches Easy ISA Issue 2

NEWCASTLE UPON TYNE, England, April 11, 2011 - Northern Rock has announced the launch of its Easy ISA Issue 2.

Following the success of its recently launched Easy ISA, Northern Rock
has improved the variable rate cash ISA (
www.northernrock.co.uk/savings/Find/Results/ISAs/) account, which
offers a competitive tax-free* interest rate for a minimum deposit of just
GBP1.

Easy ISA (www.northernrock.co.uk/savings/Find/Results/ISAs/) can
now be opened and administered by post, as well as in branch.

The Easy ISA Issue 2 account provides a variable rate of interest, and
easy access to savings (www.northernrock.co.uk/savings/) funds. With a
minimum deposit of GBP1, a competitive flat rate of 2.65% tax free*/AER** pa,
and the option to transfer across any existing Cash ISAs, Easy ISA makes
sense. Balances below GBP1.00 will earn the basic savings rate of 0.10% tax
free* per annum and deposits into the Variable Rate Easy ISA will be allowed
from all Northern Rock variable rate accounts, instant access and notice
accounts. Transfers from online accounts must be made via the nominated bank
account. Transfers in from other organisations are allowed.

The product welcomes additional deposits and transfers within HM Revenue
and Customs limits (GBP5,340 pa from 6 April 2011). Interest, which can be
added to the account or paid into another account, is paid annually on 30
November and will be available the next business day.

Charge-free and notice-free withdrawals and transfers (minimum GBP1) can
also be made from the account (there is a GBP35 fee for transfers via CHAPS).

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 to UK
borrowers. New products, such as savings accounts (
www.northernrock.co.uk/savings/), 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.

Notes to Editors:

*The tax-free rate is the contractual rate of interest payable where
interest is exempt from income tax.

**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.

    Media Contact:

    Jule Wilson
    Northern Rock House
    Gosforth
    Newcastle upon Tyne
    NE3 4PL
    +44(0)191-279-4676

www.northernrock.co.uk

Jule Wilson, Northern Rock House, Gosforth, Newcastle upon Tyne, NE3 4PL, +44(0)191-279-4676