SHIP GRANTS MEMBERSHIP TO STONEHAVEN

SHIP (Safe Home Income Plans) the UK equity release industry body representing over 90% of the equity release sector, today welcomed its newest member, Stonehaven Equity Release. Stonehaven’s membership brings the total number of SHIP members to twenty one.*

Stonehaven Equity Release launched in August 2006 and offers a number of innovative and flexible lifetime mortgage products including some available to borrowers from the age of 55 who may still be in employment.

SHIP represents over 90% of the equity release sector and a vigorously enforced Code of Practice and professional Rules of Conduct bind all of its members. All providers who apply to join SHIP must have products and processes that comply exactly with the SHIP Code and Rules.This ensures that IFAs and consumers can trust the quality and integrity of products from SHIP member companies.

Jon King, Chief Executive of SHIP commented:

“We are delighted to welcome Stonehaven Equity Release to SHIP. As the third equity release provider to gain admittance to SHIP this year we have already surpassed the total number of new entrants in 2005. Stonehaven has enjoyed incredible success since its launch and is opening up the market to borrowers who previously could not gain access. Our 21st new member shows how SHIP is truly coming of age with innovative products taking the market forward.”

Jayne Almond, Chief Executive of Stonehaven Equity Release added:

“Stonehaven’s innovative product range has always been designed with SHIP membership in mind. We recognise the value of the SHIP logo in giving our customers peace of mind and so are delighted to be joining SHIP as its newest member.”

For further information, please contact:

SHIP Fiona Chow The Wriglesworth Consultancy Phone: 0207 845 7900

Jon King SHIP Chairman Phone: 02920 371725

STONEHAVEN EQUITY RELEASE Eoin Brophy or Claire Fouhy Hume Brophy Communications T: +44 (0) 207 499 8731 eoin.brophy@humebrophy.com claire.fouhy@humebrophy.com

About SHIP:

Safe Home Income Plans (SHIP) is the UK’s leading professional body for equity release product providers, representing the interests of its 21 members who provide home income and equity release plans. It was launched in 1991 to promote safe schemes. At present, 90% of the equity release market (in volume terms) is represented by SHIP members.

SHIP’s current 21 members* are: Bradford and Bingley Ltd, Bridgewater Equity Release, Bristol and West Mortgages, Ecclesiastical Life, GE Life, Hodge Equity Release, Home & Capital Trust, In Retirement Services, Just Retirement, Key Retirement Solutions, National Counties Building Society, New Life Mortgages, Northern Rock, Norwich Union, Partnership Home Loans, Portman Building Society, Prudential, Retirement Plus, Standard Life, Stonehaven Equity Release, Stroud and Swindon Building Society.

About Stonehaven:

Stonehaven – headquartered in London - is led by CEO and founder, Jayne Almond, the former Managing Director of Barclays/Woolwich mortgage business. Jayne’s highly experienced senior management team includes Sales and Marketing Director, Georgina Smith, the former brand Director for Orange; CFO, John Pemberton, formerly of Prudential; and Bob Avery formerly of Lloyds TSB. The 20-strong Stonehaven team also includes a dedicated adviser support team, a bespoke underwriting team, and a team focused solely on mortgage processing.