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Alliance & Leicester Lowers Offshore Account Minimum Balance

Investors Offshore, London

31 January 2003

Alliance & Leicester International Limited, the Isle of Man offshore savings bank, has lowered the minimum opening balance on its popular Offshore 180 Plus Account from £50,000 to £10,000. This change will allow more UK and overseas long term savers access to an account which not only offers a very attractive rate
of interest, but also the opportunity to receive a 0.25% bonus if no withdrawals are made during any 12 month period.

The Offshore 180 Plus Account is ideal for residents of the Isle of Man, the UK, and international customers, currently living or working abroad who are looking for a competitive return. There is no limit on the number of withdrawals made on the account, provided the remaining balance does not fall
below £10,000 - however all withdrawals are subject to 180 days' notice.

Simon Hull, Managing Director of Alliance & Leicester International, commented: "At A&L International, we make every effort to meet the growing needs of our
customer base, and adapt our products accordingly. By reducing the minimum balance from £50,000 to £10,000 a wider group of savers, both UK and internationally based, will have access to an account that offers them a competitive return, plus an extra bonus, depending on the number of withdrawals made."

Offshore 180 Plus Account details:

  • An account can be opened with a minimum of £10,000 and the maximum balance in any one Offshore 180 Plus Account is £1,000,000;
  • There is access the money on 180 days' notice;
  • Interest of 4.65% gross PA which includes a 0.25% bonus if no withdrawals are made in any 12 month period;
  • Interest paid annually, gross, without the deduction of tax, on 31st March and can be added to the account, transferred to another Alliance & Leicester International account, or transferred in sterling to a bank account in the Isle of Man, UK or Channel Islands.
  • Statements are issued annually;
  • Covered by the Isle of Man Depositor's Compensation Scheme.

For further information call +44 (0) 1624 663566 or visit http://www.alil.co.im.

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