Skipton International Appoints New MD

ST PETER PORT, Guernsey, March 28, 2011 - Skipton International, the leading Guernsey mortgage and savings bank,
has announced today the appointment of Jim Coupe as its new Managing
Director.

Jim joined Skipton International in 2009 as Commercial Director; since
then the business has seen substantial growth, leaping to the number one spot
as the Island's leading mortgage lender in 2010. Skipton International is
also a major provider of savings accounts for both businesses and local
residents, being a Moneyfacts award winner for its savings accounts.

Jim was previously with Central Trust Plc., where he was Broking
Operations Director.

Commenting on his new appointment, Jim said, "I am delighted to be taking
over the helm at Skipton International at such an exciting time in our
development. I will be leading a gifted team of both mortgage and savings
specialists here, something that was recognised by our recent shortlisting in
the Best Medium Business category in the coveted 2010 Guernsey Awards for
Achievement. After our impressive business performance both here and in
Jersey last year, we are all looking forward to developing the business still
further."

Richard Twigg, Chairman of Skipton International added, "On behalf of the
Board I am delighted to announce Jim's appointment, following a thorough
process involving a number of high calibre candidates. Jim has already moved
quickly to build on and enhance Skipton International's reputation as a
dynamic business operation with a strong community focus through our
sponsorships such as the Skipton Swimarathon, and we look forward to working
with Jim who has the strategic and operational capability and passion to
drive Skipton International through its next stage of development."

Skipton International Ltd is a wholly owned subsidiary of Skipton
Building Society, the fourth largest in the UK with almost GBP14 billion
assets.

For more information on Skipton International mortgage and savings
products, visit www.skiptoninternational.com or call
+44(0)1481-730-730

Editor's notes:

1. AER stands for Annual Equivalent Rate and illustrates what the rate
would be if interest was paid and added each year.

2) Skipton International Limited (SIL) is a wholly owned
subsidiary of Skipton Building Society (SBS), the UK's 4th largest
building society with over GBP14 billion assets.

3) SIL is licensed under the Banking Supervision (Bailiwick of
Guernsey) Law 1994, as amended.

4) Skipton Building Society has given an undertaking agreeing
to discharge the liabilities of SIL in so far as SIL is unable to
discharge them out of it own assets and whilst SIL remains a subsidiary
of Skipton Building Society.

5) As a Licensed Bank in Guernsey, Skipton International
Limited is a participant in the Guernsey Banking Deposit Compensation
Scheme (the "Scheme") established by The Banking Deposit Compensation
Scheme (Bailiwick of Guernsey) Ordinance, 2008 (the "Ordinance"). The
following is a brief summary of the Scheme, but is not intended as a
substitute for the actual wording of the Ordinance, a copy of which is
available on request.

      - The Scheme only applies to 'qualifying deposits', which
        broadly means deposits made by natural persons for their own benefit;
        with a few limited exceptions such as, for example, deposits made by
        trustees of retirement annuity trust schemes, the Scheme does not
        apply to companies, trusts, partnerships or charities.

      - The Scheme will provide compensation in the event that a
        Licensed Bank is unable to repay its depositors. Under normal
        circumstances, payment will be made within 3 months of receipt of a
        valid claim form.

      - Compensation is limited to a maximum of GBP50,000 per
        individual claimant; in the case of a joint account each depositor
        would be entitled.

      - Total Scheme compensation in any five year period is limited
        to GBP100 million. If claims exceed this cap, compensation would be
        reduced pro rata. The cap also means that compensation in respect of
        any one bank cannot exceed GBP100 million.

      - The amount payable may be reduced if the Bank has any
        contractual right of set-off against the account. The Scheme is
        entitled to recover compensation from any funds subsequently paid out
        by the Bank.

      - Further information and a leaflet about the Scheme is
        available at:

        Website: www.dcs.gg
        Telephone: +44(0)1481-722756
        Post: P.O. Box 380, St Peter Port, GY1 3FY

6) Deposits made with SIL are not covered by the Financial
Services Compensation Scheme established under the UK Financial Services
and Markets Act 2000.

7) SIL places funds with SBS and thus its financial standing is
linked to SBS. Publicly available information, including reports and
accounts, is available from www.skipton.co.uk.

Copies of the latest SIL audited accounts are available on
request.

    Media contacts: Please contact:
    Guy Stephenson/Jennifer Duffy
    Nacelle Limited
    Tel: +44(0)20-8333-9125
    +44(0)7980-241-558
    E-mail: jenny@nacelle.co.uk

Media contacts: Please contact: Guy Stephenson/Jennifer Duffy, Nacelle Limited, Tel: +44(0)20-8333-9125, +44(0)7980-241-558, E-mail: jenny at nacelle.co.uk .