Abbey International Lifts 12 Month US $ Rates and Reduces Sterling Minimum Balances

ST HELIER, Jersey, February 8, 2011 /PRNewswire/ --

- 12 & 18 Month Sterling Fixed Rate Minimum Balance Reduced to GBP50,000

- US$ 12 Month Rate Lifted to 2.30% Gross/AER

Abbey International (http://www.abbeyinternational.com/), the Jersey based offshore bank has reduced the minimum balance requirement on its 12 and 18 month Fixed Deposit Contracts ( http://www.abbeyinternational.com/FixedDepositSavings.asp) to GBP50,000, making these popular accounts significantly more accessible to a wider audience of offshore clients. Currently, a fixed rate of 3.10% gross/AER is offered over 18 months, with 3.00%gross/AER payable over 12 months and 2.00% gross/AER over 9 months. Abbey International has also recently launched a 2 Year Fixed Deposit Contract paying 3.55% gross/AER, which complements its Best Buy 3 Year and 5 Year Best Buy accounts.

At the same time, interest rates on the bank's 12 month US dollar Fixed Deposit Contract ( http://www.abbeyinternational.com/EuroAndUsDollar12MonthasFixed.asp) were increased to 2.30% gross/AER. The US dollar Fixed Deposit Contract can be opened with a minimum balance of $150,000. Abbey International also offers a Euro 12 month Fixed Deposit Contract paying 2.60% gross/AER with a minimum balance of EUR100,000.

Abbey International is part of the highly regarded Santander Group, which has more than 150 years experience in banking and has clients all over the world. Santander has an AA credit rating from Fitch and Aa2 rating from Moody's credit rating agencies.

For further information on banking with Abbey International in Jersey call +44(0)1534-828-828 or log onto http://www.abbeyinternational.com

For media use only and not to be relied on by consumers to make financial decisions.

Notes to Editors:

Abbey International is located in Jersey, a secure, well-established and politically stable financial centre, which is renowned internationally for its high standards of regulation. Jersey's unique constitution and relationship with the British Crown dates back hundreds of years. This provides for a unique legal and neutral tax system that can provide significant wealth planning opportunities for the international investor.

Abbey international has a minimum balance entry requirement of GBP50,000 (or currency equivalent) across our portfolio of products. The minimum balance amount can be spread across a range of accounts, subject to the minimum opening deposit for each account being met.

All deposits carry the full and unconditional guarantee of Santander UK plc, itself a wholly owned subsidiary of the Santander Group.

Santander has more than 150 years' experience in banking and more branches worldwide than any other international bank.

About Banco Santander

Banco Santander (SAN.MC, STD.N, BNC.LN) is a retail and commercial bank, based in Spain, with presence in 10 main markets. At the close of June 2010, Santander was the largest bank in the euro zone by market capitalization and, at the end of 2009, fourth in the world by profit. Founded in 1857, Santander had EUR 1,365 billion in managed funds. Santander has more than 90 million customers, 13,671 branches - more than any other international bank - and 170,000 employees. It is the largest financial group in Spain and Latin America, with leading positions in the United Kingdom and Portugal and a broad presence in Europe through its Santander Consumer Finance arm. In the first half of 2010, Santander registered EUR4,445 million in net attributable profit.

Santander UK is a full-service retail and commercial bank providing services to 25 million customers in more than 1,300 branches and around 4,500 cash machines.

    Media Contacts:

    Guy Stephenson/Jennifer Duffy
    Nacelle Ltd
    +44(0)20-8333-9125
    [email protected]

    Jane Matthews, Abbey International, Head of Client Experience
    +44(0)1534-828137
    [email protected]

SOURCE Abbey International