BB. Bradford & Bing

    RNS Number : 8549B
  Bradford & Bingley PLC
  22 August 2008
   

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES, CANADA,
AUSTRALIA, JAPAN, SOUTH AFRICA OR IN OR INTO ANY JURISDICTION WHERE SUCH ACTION WOULD BREACH ANY APPLICABLE LAW.

    Bradford & Bingley plc

    PLACING OF THE RUMP

    22 August 2008
      
    Bradford & Bingley plc ("Bradford & Bingley" or the "Company") announced on 18 August 2008 that it had received valid acceptances in
respect of 230,406,761 new ordinary shares (the "New Shares") pursuant to the 67 for 50 rights issue announced on 4 July 2008 (the "Rights
Issue"), representing approximately 27.84% of the total number of New Shares. 

    The Company announces that the Underwriters have informed the Company that they are of the opinion that it is unlikely that any
subscribers can be procured at a price per New Share which is at least equal to the Issue Price of 55 pence per New Share and the expenses
of procuring subscribers (including any applicable brokerage and commissions and amounts in respect of value added tax) by 4:30 p.m. on 22
August 2008.

    The Underwriters and sub-underwriters will be subscribing for the remaining 597,263,479 New Shares, representing approximately 72.16% of
the total number of New Shares offered to Shareholders, at the Issue Price of 55 pence per New Share.

    The Underwriters and other banks participating in the sub-underwriting have entered into a lock-up agreement under which they have
agreed not to dispose of the 426,698,729 New Shares that they have agreed to subscribe for pursuant to their underwriting and
sub-underwriting commitments, and not to do certain other related activities, for a period of 20 calendar days from and including 22 August
2008, subject to customary exemptions. The lock-up agreement will terminate in the event that the Company enters into an offer period (as
defined in the City Code on Takeovers and Mergers).

    Further information on the Rights Issue is available on the Company's website www.bbg.co.uk.

    Enquiries

    For further information please contact:

    Bradford & Bingley plc
           
 Investor Relations             Media Relations
 Katherine Conway                  Simon Moyse,
 +44 (0) 1274 554928                   Finsbury
 Neil Vanham                    +44 (0) 20 7251
 +44 (0) 1274 806341                       3801
                                  Nickie Aiken,
                                   Press Office
                                +44 (0) 20 7067
                                           5645


    Words and expressions defined in the Prospectus have the same meaning in this announcement unless the context so requires otherwise.

    Citigroup Global Markets Limited, Citigroup Global Markets U.K. Equity Limited (in each case and together, "Citi") and UBS Limited ("UBS
Limited" or "UBS") are acting each exclusively for Bradford & Bingley and for no one else in connection with the matters described in this
announcement and will not regard any other person (whether or not a recipient of this announcement) as a client in relation to the matters
described in this announcement and will not be responsible to any other person for providing the protections afforded to their respective
clients nor for providing advice to any other person in relation to the contents of this announcement or any other matter referred to in
this announcement.

    Citigroup Global Markets U.K. Equity Limited and UBS Limited may, in accordance with applicable legal and regulatory provisions, engage
in transactions in relation to the ordinary shares and/or related instruments for their own account for the purpose of hedging their
underwriting exposure or otherwise. Except as required by applicable law or regulation, Citigroup Global Markets U.K. Equity Limited and UBS
Limited do not propose to make any public disclosure in relation to such transactions.

    The distribution of this announcement and/or the prospectus and/or new ordinary shares into jurisdictions other than the United Kingdom
may be restricted by law. Persons into whose possession this announcement comes should inform themselves about and observe any such
restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

    In particular, this announcement is not for distribution, directly or indirectly in, or into the United States (including its
territories and dependencies, any State of the United States and the District of Columbia), Australia, Canada, Japan or South Africa. 

    This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United
States. The nil paid rights, the fully paid rights, the new ordinary shares and the provisional allotment letters have not been, and will
not be, registered under the US Securities Act of 1933, as amended (the "Securities Act"). The securities mentioned herein may not be
offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities
Act. There will be no public offer of such securities in the United States.

    The nil paid rights, the fully paid rights, the new ordinary shares and the provisional allotment letters have not been approved or
disapproved by the US Securities and Exchange Commission, any state's securities commission in the United States or any US regulatory
authority, nor have any of the foregoing authorities passed upon or endorsed the merits of the offering of the nil paid rights, the fully
paid rights, the new ordinary shares and the provisional allotment letters or the accuracy or adequacy of this announcement. Any
representation to the contrary is an offence. The nil paid rights, the fully paid rights, the new ordinary shares and the provisional
allotment letters have not been or will not be registered under the relevant laws of any state, province or territory of Australia, Canada,
Japan or South Africa and may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or
indirectly, within Australia, Canada, Japan or South Africa except pursuant to an applicable exemption.

    No representation or warranty, express or implied, is given by or on behalf of the Company, Citigroup Global Markets Limited, Citigroup
Global Markets U.K. Equity Limited or UBS Limited or any of their respective directors, officers, employees, advisers or any of their
respective affiliates, or any other person, as to the accuracy, fairness or sufficiency or completeness of the information or opinions or
beliefs contained in this announcement (or any part hereof).



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