Directorate Change

VIRGIN MONEY HOLDINGS (UK) PLC

VIRGIN MONEY ANNOUNCES BOARD CHANGE

Olivia Dickson, a Non-Executive Director, has informed the Board of Virgin Money Holdings (UK) plc of her intention to retire from the Board on 31 December 2015. Olivia has been a member of the Board since September 2014 and is the Chair of the Remuneration Committee and a member of the Board Risk and Nomination Committees.

The Board recognises the contribution made by Olivia specifically in respect of remuneration matters in preparation for Initial Public Offering, which completed successfully in November 2014, and through the Company's first year as a listed company.

Marilyn Spearing will assume the role as Chair of the Remuneration Committee from 1 January 2016. Marilyn joined the Board in January 2014 and is a member of the Board Risk, Audit, Remuneration and Nomination Committees.

Glen Moreno, Chairman of Virgin Money said: "On behalf of the Board I would like to thank Olivia for her contribution and wish her well for the future."

Katie Marshall

Company Secretary

30 November 2015

Enquiries:

Virgin Money Company SecretaryKatie Marshall - 0191 279 6482

[email protected]

Virgin Money Investor Relations

Adam Key / Ken Donald

07894 814085 / 07710 918188

[email protected] / [email protected]

Virgin Money Press Office

Brian Giles - 07855 257288

[email protected]

Forward looking statements

This document contains certain forward looking statements with respect to the business, strategy and plans of Virgin Money Group and its current goals and expectations relating to its future financial condition and performance. Statements that are not historical facts, including statements about Virgin Money Group's or its directors' and/or management's beliefs and expectations, are forward looking statements. By their nature, forward looking statements involve risk and uncertainty because they relate to events and depend upon circumstances that will or may occur in the future. Factors that could cause actual business, strategy, plans and/or results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward looking statements made by the Group or on its behalf include, but are not limited to: general economic and business conditions in the UK and internationally; inflation, deflation, interest rates and policies of the Bank of England, the European Central Bank and other G8 central banks; fluctuations in exchange rates, stock markets and currencies; changes to Virgin Money's credit ratings; changing demographic developments, including mortality and changing customer behaviour, including consumer spending, saving and borrowing habits; changes in customer preferences; changes to borrower or counterparty credit quality; instability in the global financial markets, including Eurozone instability and the impact of any sovereign credit rating downgrade or other sovereign financial issues; technological changes; natural and other disasters, adverse weather and similar contingencies outside Virgin Money's control; inadequate or failed internal or external processes, people and systems; terrorist acts and other acts of war or hostility and responses to those acts; geopolitical, pandemic or other such events; changes in laws, regulations, taxation, accounting standards or practices; regulatory capital or liquidity requirements and similar contingencies outside Virgin Money's control; the policies and actions of governmental or regulatory authorities in the UK, the European Union, the US or elsewhere; the ability to attract and retain senior management and other employees; the extent of any future impairment charges or write-downs caused by depressed asset valuations, market disruptions and illiquid markets; market relating trends and developments; exposure to regulatory scrutiny, legal proceedings, regulatory investigations or complaints; changes in competition and pricing environments; the inability to hedge certain risks economically; the adequacy of loss reserves; the actions of competitors, including non-bank financial services and lending companies; and the success of Virgin Money in managing the risks of the foregoing.

Any forward-looking statements made in this document speak only as of the date they are made and it should not be assumed that they have been revised or updated in the light of new information of future events. Except as required by the Prudential Regulation Authority, the Financial Conduct Authority, the London Stock Exchange plc or applicable law, Virgin Money expressly disclaims any obligation or undertaking to release publicly any updates of revisions to any forward-looking statements contained in this document to reflect any change in Virgin Money's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.