Northern Rock Financial Results Year Ended 31/12/2010.

For the twelve months to 31 December 2010, the Company reported an underlying loss of £232.4 million.Gross residential lending (including retention business) was £4.2 billion in the twelve months to 31 December 2010 and net residential lending was £1.9 billion. Mortgage balances at 31 December 2010 were £12.2 billion, 18% higher than at the start of the year. The average LTV of new lending in 2010 was 62%. Residential mortgage accounts over three months in arrears totalled 197.Retail deposit balances were £16.7 billion at 31 December 2010, compared with £17.6 billion at 30 June 2010 and £19.5 billion at the start of 2010.

Northern Rock Profile

Northern Rock started life as the Northern Counties Permanent Building Society (1850) and Rock Building Society (1865). On 1/10/1997 Northern Rock joined the stock market and the 800,000 members each received a windfall of at least £2,150. The Northern Rock was nationalised on 22/02/2008. For the year ended 31/12/2009 Northern Rock made a statutory full year loss before tax of £257.5 million For the year ended 31/12/2008 Northern Rock made a loss of £1309.7 million. Quarter 1 2009 Trading Statement Gross loan outstanding to government £14.6 billion Net amount outstanding to government £9.8 billion 3,200 properties held in possession 3.67% residential arrears 3 months or over (2.92% 31/12/2008) Average loan to value of new lending in 1st quarter 48% Gross mortgage lending in 1st Quarter £550 million    Northern Rock subscribes to the banking code and is a member of the financial services compensation scheme.

Northern Rock product range

Northern Rock provides savings accounts, mortgages and loans. The savings accounts on offer from the Northern Rock include e-saver, fixed rate bonds, isas, silver savings, branch saver, current account and tracker online.