Guernsey Banking Deposit Compensation Scheme

As a Licensed Bank in Guernsey, Skipton International Limited is a participant in the Guernsey Banking Deposit Compensation Scheme (the "Scheme") established by The Banking Deposit Compensation Scheme (Bailiwick of Guernsey) Ordinance, 2008 (the "Ordinance").

The following is a brief summary of the Scheme, but is not intended as a substitute for the actual wording of the Ordinance, a copy of which is available on request.

The Scheme only applies to 'qualifying deposits', which broadly means deposits made by natural persons for their own benefit; with a few limited exceptions such as, for example, deposits made by trustees of retirement annuity trust schemes, the Scheme does not apply to companies, trusts, partnerships or charities.

The Scheme will provide compensation in the event that a Licensed Bank is unable to repay its depositors. Under normal circumstances, payment will be made within 3 months of receipt of a valid claim form.

Compensation is limited to a maximum of £50,000 per individual claimant; in the case of a joint account each depositor would be entitled.

Total Scheme compensation in any five year period is limited to £100 million. If claims exceed this cap, compensation would be reduced pro rata. The cap also means that compensation in respect of any one bank cannot exceed £100 million.

The amount payable may be reduced if the Bank has any contractual right of set-off against the account. The Scheme is entitled to recover compensation from any funds subsequently paid out by the Bank.

Further information and a leaflet about the Scheme is available at:

Website: www.dcs.gg
Telephone: +44 (0) 1481 722756
Post:
P.O Box 380 Maison Trinity,
Trinity Square,
St Peter Port,
Guernsey, GY1 3FY

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up to 3.40% (gross pa/AER)

2 Year International Reserve Bond

up to 2.75% (gross pa/AER)

International Select 180

up to 2.50% (gross pa/AER)

International Select 120

up to 2.15% (gross pa/AER)

International Select 80

up to 2.00% (gross pa/AER)

International Select 40

up to 1.60% (gross pa/AER)

International Access Plus

up to 1.25% (gross pa/AER)

International Easy Access

For details of withdrawn or closed offshore savings accounts.

Winner Business Moneyfacts Awards 2010 - Offshore Business Accounts

Skipton International Limited is licensed under the Banking Supervision (Bailiwick of Guernsey) Law 1994, as amended.
Skipton International Limited provides offshore savings accounts and residential mortgages in Jersey and Guernsey.

*Gross means interest paid without the deduction of tax. Your tax treatment will depend on your individual circumstances and may be subject to change in the future.
**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.

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European Union Savings Tax Directive
Information for all EU Residents (including the UK)

This communication outlines the changes implemented, by the Government of Guernsey, on 1 January 2011, to the EU Savings Tax Directive ("The Directive").

Automatic Exchange of Information

If you are resident in the EU (including the UK) gross interest will be paid to you and be subject to an automatic exchange of information with The Guernsey Income Tax Authority. This report will detail your full name, postal address, account number/s, date of birth, place of birth, tax identification number (if known) and the amount of interest added to your account/s. Thereafter this will be forwarded to the tax authorities in your country of residence.

If you are deemed to be "non-domiciled" for tax purposes in your country of residence, we may be able to pay you gross interest without the need to submit an exchange of information report. To arrange this we require confirmation of your tax status, e.g. a letter issued by the tax authorities in your country of residence or accountants.

Non EU residents will continue to receive gross interest and it remains the responsibility of individual investors to disclose the interest earned on their accounts to the relevant tax authorities.

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