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Abbey offers early release bond

Abbey has established a second issue of the protected growth plan,
a guaranteed equity bond that will return investors&#39 original capital
regardless of the performance of the FTSE 100 index.

The bond has a term of five years and six months, but will mature in
the third year if the index has risen by at least 30 per cent on February
26, 2007. If it has not, the product will run full term.

To calculate the returns where the product runs full-term, the closing
level of the FTSE 100 index is recorded on February 25 2004 and this
is compared with an average produced between August 22, 2008
and August 21, 2009. Investors will get 100 per cent of this growth.

This product is structured on similar lines to the Premier growth plan
– limited editions no 14 in that it may mature earlier than the specified
term. However, investors who want full capital protection plus 100 per
cent growth do not have to go for an early release product just to
achieve this.

The premium protected growth plan from Woolwich Plan Managers
enables investors to fully protect their capital and receive 100 per cent
of any growth in the FTSE 100 index during a tern of five years and six
months. This is without the uncertainty of an early release date if the
index hits a specified target.

However, some investors may like the idea of an early release with
Abbey rather than tying their money up for the full term, particularly as
there are fewer three-year products around.

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