Alliance And Leicester Launches New Offshore Account

by Carla Johnson, Investors Offshore, London

21 March 2007

Offshore savings bank Alliance & Leicester International Limited has launched a new version of its popular Offshore Base Rate Tracker product – Offshore Base Rate Tracker Issue 3. This new account pays a market leading interest rate of 5.60% gross pa/AER and comes with a guarantee that the rate will continue to be at least 0.35% above Bank of England Base Rate until 31 January 2008.

The Offshore Base Rate Tracker 3 offers:

• A market leading interest rate of 5.60% gross pa/AER;
• Rate guaranteed to be at least 0.35% above Bank of England Base Rate until 31 January 2008 – after which time, the rate will revert to no more than 0.25% below Bank of England Base Rate;
• Minimum Sterling balance of GBP15,000, maximum of GBP1,000,000;
• One penalty free sterling withdrawal per quarter;
• Unlimited FX Withdrawals;
• Interest paid gross annually;
• Quarterly statements.

Simon Hull, Managing Director of Alliance & Leicester International commented: "Our Offshore Base Rate Tracker products continue to be exceptionally well received. The rate offered on our latest Issue is highly competitive and will appeal to serious savers seeking certainty over their rate of interest, in the form of a link to Base Rate."

Hull continues: "The account allows one free withdrawal per quarter – so it's ideal for those who are prepared to limit the access to their savings, for a market leading interest rate. But at the same time they have peace of mind that they are able to access their funds immediately should they need to, for example, in the event of an emergency. FX withdrawals are unlimited to facilitate movement of currency around the globe."

For more information on the Offshore Base Rate Tracker Issue 3, or any other Alliance & Leicester International account, customers can call +44 (0)1624 678286 or visit www.alil.co.im

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