Newcastle Building Society (Covered Bond Prog)

Under this €2 billion covered bond programme, Newcastle Building Society may from time to time
issue bonds denominated in any currency agreed between the Issuer and the relevant Dealer(s).
The price and amount of the Covered Bonds to be issued under the Programme will be determined
by the Issuer and the relevant Dealer at the time of issue in accordance with prevailing market con-
ditions. The Covered Bonds may be issued in bearer or registered form. The maximum aggregate
nominal amount of all Covered Bonds from time to time outstanding under the Programme will not
exceed Euro2 billion.

The Newcastle Building Society can trace its roots back to 1861 but was incorporated on 9 July
1980 following the merger of the Grainger and Newcastle upon Tyne Permanent Building Societies.
The Society generates its business through a variety of distribution channels including 37 branches
predominantly in the North East, call centres, corporate intermediaries and the internet. It employs
approximately 1,200 staff. As at December 2007, the Society and its subsidiaries had assets of
£4,816 million. The Society has over 450,000 investors and 48,000 borrowers.

Compare/contrast: Norwich and Peterborough (Global Cov Bond Prog), Leeds Building Society
(Global Covered Bond Prog)
Norwich and Peterborough Building Society (Covered Bond Prog)
Leeds Building Society (Covered Bond Prog)