Placing of Shares in the Company and Board Change

Virgin Money Holdings (UK) plc (the "Company")

Placing of Shares in the Company and Board Change

The Company refers to the announcement to the market issued by Goldman Sachs International on 8 September 2015 concerning the successful placing by WL Ross & Co ("WL Ross") of 50 million ordinary shares (the "Placing Shares") representing approximately 11.3% of the total voting rights in the Company. Following settlement of the Placing, WL Ross will hold 12.0% of the Company's issued share capital.

As announced, on settlement of the Placing, which is anticipated to occur on 11 September 2015, the WL Ross representative appointee on the Company's Board, James B Lockhart III will stand down as a Non-Executive Director of the Company and member of the Company's Nomination Committee with immediate effect.

Katie Marshall

Company Secretary

9 September 2015

Enquiries:

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]

FTI Consulting

John Waples / Laura Ewart

07717 814520 / 020 3727 1160

[email protected] / [email protected]