Grant of Founder Warrants

NBNK Investments Plc

("NBNK" or "the Company")

Grant of Founder Warrants to Lord Levene

As foreshadowed in the Company's report and financial statements for the period ending 31 December 2010, the Remuneration Committee has resolved that on 3 May 2011, Lord Levene be granted Founder Warrants (which are described more fully in the Company's AIM Admission Document) entitling him to subscribe for 0.7278 per cent. of the Company's Fully Diluted Share Capital at 130 pence per ordinary share. The Founder Warrants will expire on 31 August 2020 unless previously exercised or lapsed. In addition, Lord Levene has undertaken only to exercise the Founder Warrants (i) on successful completion of a substantial acquisition by the Company and the listing of the Company's shares on the Official List and (ii) only in respect of up to 5.75 million shares (or 0.7278 per cent. of the Fully Diluted Share Capital, if resulting in a lower number of shares). Further, Lord Levene has undertaken (i) not to dispose of any shares issued on exercise of such Founder Warrants for a period of 3 years from such listing and (ii) that he will over time build up a holding of at least 500,000 shares which he will then retain for so long as he remains chairman.

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About NBNK Investments

NBNK has been established to take advantage of the opportunity which exists in the UK banking and savings market to build (primarily through acquisition) a new and substantial UK bank focused on the retail and corporate SME markets. The Company has been founded by Lord Levene and a group of senior business figures, supported by a number of institutional shareholders. NBNK will focus on the UK market only, initially just in the retail banking and small and medium enterprise (SME) areas but, over time, it intends to expand into wealth management.

As a quoted entity, the Company will aim to offer investors exposure to UK retail banking through a legacy-free, focused investment in UK banking and savings. The Company does not intend to be active in areas such as wholesale, international or investment banking.

A detailed description of the Founder Warrants is set out in the Company's AIM Admission Document which can be accessed on the Company's website.

www.nbnkinvestmentsplc.co.uk