Released on: October 7, 2008, 6:31 am

Press Release Author: Andy Hammerton

Industry: Financial

Press Release Summary: The Co-operative Bank has launched the UK's first ever
packaged current accounts that offer customers an opportunity to choose benefits to
suit their personal needs.

Press Release Body: The new Privilege and Privilege Premier current accounts provide
a wide range of standard benefits that can save customers over £700 annually. In
addition, they allow customers to add one of the following three optional bundles to
their benefits package:

• Option 1: Gadget Insurance cover for MP3, cameras, laptops, camcorders, SatNav and
portable DVD players and games consoles etc. worth up to £179.98.

• Option 2: Safeguard Cover against ID theft and resolution package, including key
recovery service and handbag & contents insurance.

• Option 3: Traveller Four free airport lounge passes per year, Airport Angel annual
membership and a passport and luggage recovery service worth up to £129.50.

Dick Park house, Managing Director, Retail, at The Co-operative Bank said: "Until
now, packaged accounts have been one-size-fits-all for customers. However, our new
offering moves current accounts onto a new level by allowing consumers to tailor
benefits to their lifestyle.

"Customers can also make significant financial savings from the comprehensive range
of benefits that come with both the Privilege and Privilege Premier current
accounts."

Standard benefits on Privilege and Privilege Premier current accounts include
comprehensive worldwide family travel insurance, mobile phone insurance and enhanced
banking features. Motor breakdown cover with European assistance is also available
on the Privilege Premier current account.

Linked savings accounts are automatically opened for customers that guarantee to
track the Bank of England Base Rate. The Privilege Premier Savings account will stay
0.1 per cent below base rate, while the Privilege Savings account will pay credit
interest of 0.3 per cent below base rate. Other banking features include interest
and fee free overdrafts of £300 for Privilege Premier current account holders and
£200 for Privilege account customers.

There is also 20 per cent discount on Home Insurance from The Co-operative
Insurance, a free Legal Advice Helpline and a Smart save discount card that entitles
customers to discounts on items such as holidays, leisure attractions and car hire.

The Privilege current account costs £8.50 per month, while Privilege Premier current
account is available for £12 per month.

Commenting on the launch Andrew Hagger, leading online financial comparison site
Moneynet.co.uk, said: "These new packaged accounts from The Co-operative Bank offer
good value for money providing the associated benefits are utilised.

"Having the flexibility to choose an additional bolt-on benefits package relevant to
their lifestyle will ensure customers can make the most of this innovative pick 'n'
mix approach."

Dick Parkhouse added: "Being a customer of The Co-operative Bank also means getting
service of the highest quality. We are consistently ranked best on the high street
for customer service in independent surveys such as which? Magazine and BBC
Watchdog."

The Co-operative Bank remains the only high street bank with a clear Ethical Policy
that gives customers a say in how their money is used. It remains committed to its
UK based call centres and offers 24 hour banking via online and telephone banking.

Anyone interested in opening a Privilege or Privilege Premier current account or
getting a credit card should visit a Co-operative Bank branch, call 0800 247 365 or
go online to: www.co-operativebank.co.uk/privilege,
www.co-operativebank.co.uk/premier, www.smile.co.uk/smilemore.

Address & Contact Person

Company Name: The Co-operative Financial Services Press Office
Andy Hammerton
PO Box 200
Delf House
South way
Skelmersdale
West Lancashire, England U.K. WN8 6GH
Tel: 0161 903 3835
E-mail: andy.hammerton@cfs.coop

Web Site: http://www.co-operativeinsurance.co.uk/

Contact Details: Company Name: The Co-operative Financial Services Press Office
Andy Hammerton
PO Box 200
Delf House
South way
Skelmersdale
West Lancashire, England U.K. WN8 6GH
Tel: 0161 903 3835
E-mail: andy.hammerton@cfs.coop