SHIP GRANTS MEMBERSHIP TO RETIREMENT PLUS

SHIP (Safe Home Income Plans) the UK equity release industry body representing over 90% of the equity release sector, today welcomed its newest member, Retirement Plus. Retirement Plus was granted membership at the beginning of June and brings the total number of SHIP members to twenty.*

Retirement Plus launched in November 2005. Retirement Plus has sought SHIP membership in order to support its ambitious plans for expansion in the equity release sector.

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, Chairman of SHIP commented:

“We are delighted to welcome Retirement Plus to SHIP.As the second equity release provider to gain admittance to SHIP in this year this means we have already equalled the total for 2005.As the criteria for SHIP membership is so strict this is an extremely positive indication that equity release providers are taking their responsibilities to their customers seriously.”

Duncan Young, Chief Executive of Retirement Plus added:

“Retirement Plus has always operated to the highest standard and receiving membership of SHIP is a demonstration of our dedication to product integrity, customer service, honesty and clarity.We look forward to being an active participant in all SHIP's endeavours in the future.”

For further information, please contact:

SHIP

Fiona Chow The Wriglesworth Consultancy Phone: 0207 845 7900

Jon King SHIP Chairman Phone: 02920 371725

RETIREMENT PLUS

Duncan Young Retirement Plus Chief Executive Phone: 020 7907 8591 / 07775 783 431

Alan Bannister Retirement Plus Head of Marketing 020 7907 8581 / 07770 980 142

Neil Mainland / Kat Milne/ Zoe Butt Mainland PR 020 3008 7400

About SHIP:

Safe Home Income Plans (SHIP) is the UK's leading professional body for equity release product providers, representing the interests of its 19 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 20 members* are: 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, MortgageExpress, National Counties Building Society, New Life Mortgages, Northern Rock, Norwich Union, Partnership Home Loans, Portman Building Society, Prudential, Retirement Plus, Standard Life, Stroud and Swindon Building Society. Retirement Plus: Retirement Plus launched in 2005 and is backed financially by property investors including FTSE 100 property company British Land, and the UK's leading privately owned property-related asset manager, Delancey. Chief Executive is Duncan Young, Head of Sales Fred Paton and Commercial Director Chris Rumsey, who was formerly Chief Executive of property fund managers, Baffin and Dusco.

The Property Plan sits between lifetime mortgages and home reversion plans. It has FSA lifetime mortgage compatible IDD, KFI and DIP processes. Retirement Plus does not take direct applications from consumers.The Property Plan is only distributed through intermediaries, because of Retirement Plus's insistence that the product should be bought with advice.

Website: www.retirement-plus.co.uk