LONDON SCOTTISH BANK PUBLIC LIMITED COMPANY

The Trustees of the London Scottish Bank plc Qualifying Employee Share
Ownership Trust ("QUEST"), on 8th September 2003 acquired and subsequently
transferred 111,542 Ordinary Shares of 10p each to participants in the London
Scottish Bank plc 1993 Savings Related Share Option Scheme ("the Scheme").

All executive directors of London Scottish Bank plc who are members of the
Scheme are deemed to be interested in the shares held in the QUEST by virtue of
being potential beneficiaries and have therefore disclosed such interest in the
shares of the Company.

8th September 2003


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