ONE Savings Bank PLC : Notification of interest...

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1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii		OneSavings Bank plc
2 Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights			x
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):
3. Full name of person(s) subject to the notification obligation: iii	JCF III AIV II L.P.
4. Full name of shareholder(s) (if different from 3.):iv	OSB Holdco Ltd.
5. Date of the transaction and date on which the threshold is crossed or reached: v	12/05/15
6. Date on which issuer notified:	14/05/15
7. Threshold(s) that is/are crossed or reached: vi, vii	Holding reduced from 55.54% to 49.33%

8. Notified details:
A: Voting rights attached to shares viii, ix
Class/type of shares if possible using the ISIN CODE	Situation previous to the triggering transaction		Resulting situation after the triggering transaction
	Number of Shares	Number of Voting Rights	Number of shares	Number of voting rights		% of voting rights x
			Direct	Direct xi	Indirect xii	Direct	Indirect
GB00BM7S7K96 Ordinary shares of 1p	135,008,415	135,008,415	2,804,344	2,804,344	117,108,687	1.15%	48.18%

B: Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument	Expirationdate xiii	Exercise/ Conversion Period xiv	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights
N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction
Type of financial instrument	Exercise price	Expirationdate xvii	Exercise/ Conversionperiod xviii	Number of voting rights instrument refers to	% of voting rights xix, xx
N/A					Nominal	Delta

Total (A+B+C)
Number of voting rights	Percentage of voting rights
119,913,031	49.33%

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Proxy Voting:
10. Name of the proxy holder:	N/A
11. Number of voting rights proxy holder will cease to hold:	N/A
12. Date on which proxy holder will cease to hold voting rights:	N/A

13. Additional information:	N/A
14. Contact name:	Arvidas Remeza, Associate General Counsel, J.C. Flowers & Co. UK LLP
15. Contact telephone number:	0207 7100 515