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Tuesday 12 April, 2016


ONE Savings Bank PLC : Directorate change

ONE Savings Bank PLC : Directorate change

OneSavings Bank plc

Directorate Change and Changes to Committee Chairmen

OneSavings Bank plc ("OSB", "the Company"), the specialist lending and retail savings group, announces that Malcolm McCaig, independent Non-Executive Director, will be stepping down from the Board with effect from 31 December 2016.

Mr McCaig joined Kent Reliance Building Society as a director in 2009 and was appointed to the Board of OSB in 2010; he was Chairman of Kent Reliance Building Society and subsequently OSB and Kent Reliance Provident Society until 2012.

Mr McCaig has taken the decision to step down from the Board of OSB after 7 years with the business to focus on his other non-executive roles.

OSB Chairman, Mike Fairey, said: "I would like to thank Malcolm for the enormous contribution he has made to the success of OneSavings Bank over the past seven years, and wish him well in all his future ventures.'

Mr McCaig said: "I am proud to have been able to help guide the Bank on its journey to being the successful FTSE 250 business it is today.  I wish the Board and Management all the best in continuing to build on the success to date."

The Company also announces that, completing the review of the composition of its Committees in which Eric Anstee took over as Chairman of the Audit Committee from Graham Allatt and Graham Allatt as Chairman of the Risk Committee from Rod Duke on 1 January 2016, the Chairman of the Nomination and Governance Committee will with effect from 12 April 2016 change to Rod Duke (Senior Independent Director) from Mike Fairey.


OneSavings Bank plc

Alastair Pate, Head of Investor Relations            t: 01634 838973


Robin Wrench / Simone Selzer                            t:  020 7404 5959

About OneSavings Bank plc

OneSavings Bank plc ('OSB') began trading as a bank on 1 February 2011 when the trade and assets of Kent Reliance Building Society ('KRBS') were transferred into the business. OSB is a specialist lending and retail savings group authorised by the Prudential Regulation Authority, part of the Bank of England, and regulated by the Financial Conduct Authority and Prudential Regulation Authority.

OSB focuses on selected sub-sectors of the lending market in which it has established expertise, platforms and capabilities, and where opportunities have been identified for both high returns on a risk-adjusted basis and strong growth. These include Residential Mortgages (comprising first charge, second charge and shared ownership), Buy-to-Let/SME and Personal Loans. OSB originates organically through specialist brokers and independent financial advisors.

OSB is predominantly funded by retail savings originated through the established Kent Reliance franchise, which includes a network of branches in the South East of England, as well as online and postal channels. Diversification of funding is currently provided by a securitisation and OSB joined the Funding for Lending Scheme in early 2014.

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ONE Savings Bank PLC via Globenewswire


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