ULSTER BANK GROUP ANNOUNCES €1 BILLION FINANCE SUPPORT PACKAGE FOR BUSINESSES: Ulster Bank Group today announced a range of support initiatives and funding options for businesses that will bring the value of available finance to the sector to Eur1 billion. The initiatives will assist viable businesses and include loans and overdrafts to support cash flow management for existing and new customers.

This package of initiatives is Ulster Banks latest commitment to the business community and in particular SMEs as they manage their capital and cashflow through the current economic downturn. Declan Fitzgerald, Managing Director Business Banking RoI, Ulster Bank said, Now more than ever, businesses across the island need access to funds and the support of their bank. Ulster Bank is determined to ensure the credit needs of businesses are met in these uncertain times. Our Eur1 billion commitment to the business community is designed to enable Irish enterprises to carry on their business and to facilitate their growth and development by providing a number of working capital solutions. These initiatives highlight Ulster Banks support and commitment to the business community and our dedication to maintaining last years level of funding to the SME sector. We will also be providing the benefits of the European Investment Bank EIB Fund and making these monies available to the market, he added.

For start up and early stage businesses, Ulster Bank will offer customers loans at a reduced and lowest market rate of 4.95per cent Variable. Additional start up support will also be available through Ulster Banks Franchising Support Unit and through the recently launched Ulster Bank Diageo Fund managed by NCB Ventures. The Eur75million Ulster Bank Diageo Fund will invest in companies at early and expansion stages of development across a broad range of industrial sectors. Welcoming the announcement, Dr. Aidan OBoyle, SFA Chairman commented, The Small Firms Association welcomes the range of supports announced today by Ulster Bank, cash flow is the life blood of any business and currently small businesses are facing financial pressures from all angles, restricted access to finance, extension of creditor days taken by customers and reduced spending.

It is good news that Ulster Bank is reacting to the real problems which their small business customers are facing and their proposed actions should assist the small business sector with financial pressures to prevent business closures and job losses. Cash Flow Management support options are available from Ulster Bank Invoice Finance and Lombard Asset Finance.

Asset and invoice finance facilities enable customers to better manage the flow of working capital. In addition, international trade finance and cash management solutions from the Ulster Bank Global Transaction Service Division for exporters and importers will optimise working capital and protect cash in the current environment. Full details of Ulster Banks support initiatives are available from business advisers throughout the branch and Business Centre network.

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