Direct Saver Fixed Rate Bond Issue 26

Account type	Effective from	% Gross p.a. (1)	% AER (2)	Tier (3)	% Net p.a.(4)
Direct Saver Fixed Rate Bond Issue 26 (annual)	16/06/2010	2.50	2.50	1,000	1.87	See Below
Direct Saver Fixed Rate Bond interest rate is fixed until 15 August 2011. 1. Interest earned will be subject to Deposit Interest Retention Tax (DIRT) at the prevailing rate (currently 25% with effect from 8 April 2009). This tax will be deducted by us at source and paid in accordance with the applicable legislation. Should you be eligible for the refund of tax, enquiries should be sent to the Revenue Commissioners. 2. AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added to the capital balance each year. 3. Minimum investment €1,000. Maximum holding with Northern Rock €3,000,000 per investor. Account balances below the minimum investment will receive interest at the prevailing basic savings rate, currently 0.10%. 4. DIRT will automatically be deducted at the standard rate (currently 25% with effect from 8 April 2009) from interest paid/credited to your account, unless you are eligible and have registered to receive interest gross by completing a DIRT Exemption Declaration for each account you hold.. The account is open to permanent Republic of Ireland residents aged 18 or over.
Direct Saver Fixed Rate Bond Issue 26 (monthly)	16/06/2010	2.25	2.27	1,000	1.68	See Below
Direct Saver Fixed Rate Bond interest rate is fixed until 15 August 2011. 1. Interest earned will be subject to Deposit Interest Retention Tax (DIRT) at the prevailing rate (currently 25% with effect from 8 April 2009). This tax will be deducted by us at source and paid in accordance with the applicable legislation. Should you be eligible for the refund of tax, enquiries should be sent to the Revenue Commissioners. 2. AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added to the capital balance each year. 3. Minimum investment €1,000. Maximum holding with Northern Rock €3,000,000 per investor. Account balances below the minimum investment will receive interest at the prevailing basic savings rate, currently 0.10%. 4. DIRT will automatically be deducted at the standard rate (currently 25% with effect from 8 April 2009) from interest paid/credited to your account, unless you are eligible and have registered to receive interest gross by completing a DIRT Exemption Declaration for each account you hold.. The account is open to permanent Republic of Ireland residents aged 18 or over.

Annual interest will be paid on the first bank working day following 15 August 2011. Monthly interest will be paid on the first bank working day of the following month. A statement will be issued shortly after maturity. Interest rates are fixed until the maturity date and are variable after that.

Rates are fixed until maturity on 15 August 2011.

If you have invested €10,000 by electronic transfer on 16 August 2010 and the funds remain in the account (without withdrawal of principal or interest, or early closure) until maturity on 15 August 2011, you will receive back the €10,000 you have put in, plus €250 gross interest (€187 net) for the annual interest option or €225 gross interest (€168 net) for the monthly interest option.

The example is for illustrative purposes only and is calculated from an account opening date of 16 August 2010 to a maturity date of 15 August 2011 . Deposit Interest Retention Tax (DIRT) is deducted at the prevailing rate (currently 25%).

Withdrawals and closures prior to maturity of your Bond are possible but will be subject to a charge equivalent to 60 days loss of interest on the amount withdrawn. Any withdrawals will reduce the return on your investment.

The charges applicable on this account are as follows:

Service	Charge
Withdrawal by cheque - (€1,000 minimum)	Free
Withdrawal by electronic transfer - (€1,000 minimum)	Free
Withdrawal by electronic transfer - same day (€25,000 minimum withdrawal, and subject to availability)	€25 for each transfer***
Special presentation of a cheque	€6 per cheque
Copy cheque	€6 per cheque
Copy tax certificate	€6 per certificate
Copy statement	€6 per statement

All charges have been authorised by the Financial Regulator.

We may increase the amount of the charges for any existing service, introduce new charges or change the way in which you have to pay a charge, only with prior approval from the Financial Regulator.