LBS.L Regulatory News (LBS)

9 Sep 2005 14:13

Leeds & Holbeck Building Society09 September 2005 9th September 2005 For Immediate Release New building society name on streets of UK People will see a new building society name around the country on Monday. Afterten years at the helm of the UK's eighth largest society Ian Ward, ChiefExecutive of Leeds & Holbeck, has overseen a change in the organisation's name.Leeds Building Society is the new shorter brand for the Society, which has 29branches in Yorkshire, 57 throughout the UK and an outlet in Gibraltar. As a mutual, the Society sought the consent of its members to the change at itsAnnual General Meeting in March this year. More than 8 out 10 of the 75,000voters were in favour. Mr Ward said "One of the main objectives of shorteningour name is to enable us to emphasise 'Leeds' and 'Building Society'. Thecurrent Leeds and Holbeck Building Society name is very long and when being usedtends to be shortened to Leeds and Holbeck which then removes the importantdistinction of us as a building society, being owned by our members and notexternal shareholders. Our success is a consequence of our quality products,high levels of customer service and keen pricing that are possible because weare a building society. "Leeds is known nationally as a very successful vibrant city. Our Head Officehas always been in Leeds and it will stay here and expand further. We areindependent and, unlike many other financial institutions, are not owned by aparent company with its Head Office elsewhere in the UK or overseas. We intendto remain an independent building society and we strongly believe that 'LeedsBuilding Society' very clearly describes our successful business to people inLeeds, Yorkshire and throughout the UK." The Society has been very successful over recent years and is due to release itsresults for the first half of 2005 on 26 September. In 2004, it delivered a 15%growth in assets to over £6.1bn and pre-tax profits of £42m. "Shortening our name is the next logical step in our plan to take Leeds BuildingSociety even further forward. The last ten years have been excellent for us andwe are now embarking on a new advertising campaign to tell even more peopleabout the service and products we offer." said Mr Ward. He continued "We have invested in TV, radio, national press, outdoor media andlocal press advertising to support all our outlets from Aberdeen to Southamptonand Norwich to Belfast. The detailed research we carried out clearly showed thatthe staff in our branches provide a personal, professional service that is sadlylacking at many of our high street rivals. This, coupled with the fact that youcan walk in at any time to suit you - without an appointment - to talk aboutsavings or mortgages, underpins the advertising campaign." The advertising campaign launches on 12 September, to co-incide with the namechange, and runs for 8 weeks. The Society has launched some new excellent valuelimited issue savings and mortgage products which are available throughout itsbranch network. Notes to Editors The Society is the UK's eighth largest building society with assets of over£6.1bn and 58 branches. The Society was formed 130 years ago and has operatedfrom the centre of Leeds since 1886 and is the only independent financialservices organisation with its Head Office in Leeds. The Board of Directors asked the members to vote on a proposed name change atthe Annual General Meeting - to Leeds Building Society. More than 8 out of 10voters were in favour of the name change, which will take effect on Monday 12thSeptember. For further information please contact: Gary BrookPR ManagerTelephone: 0113 225 7606Out of hours: 07866455111Email: gbrook@leedsbuildingsociety.co.uk This information is provided by RNS The company news service from the London Stock Exchange