Exclusive SBS Customer Investment

9 February 2009

Exclusive SBS Customer Investment

SBS Bank is delighted to be able to offer the SBS Premier Bond – an outstanding capital investment paying a high rate of interest.

SBS Bank chief executive Ross Smith said the bank wanted to reward its loyal members by making a maximum level of investments available exclusively to SBS Bank customers. These investments will be locked in for a five year term at the highly competitive interest rate of 7.00 percent per annum and available exclusively to existing customers between 9 February and 2 March (or until the targeted level of investment has been reached). SBS hopes to be able to continue to offer the SBS Premier Bond publicly once this initial exclusive offer expires. However, the interest rate on the Bond will be subject to review.

“The Premier Bond is an ideal way to further strengthen our balance sheet with longer term funding. At the same time it enables us to celebrate with our members our registration as a bank and our 140th anniversary by giving them an attractive investment opportunity.

“We are committed to delivering quality products and we’re always looking for new and innovative ways to reward our loyal customers and meet their financial needs. The SBS Premier Bond is issued as a subordinated redeemable share and offers a highly competitive interest rate, with the principal sum locked in for a five-year term allowing investors to earn a regular fixed income from their investment through quarterly interest payments. The SBS Premier Bond qualifies as capital under the Reserve Bank Capital Adequacy Framework.”

Further information regarding the Five-year Premier Bond is available in the SBS Bank investment statement, which can be viewed on the SBS Bank website www.sbs.net.nz.

ENDS

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