International bank offers its pioneering mortgage product for the first time in RAK

Competitive interest rate, first class customer service and no early settlement penalties

Available on each stage of the development, including soon to be launched 'Royal Breeze'

Dubai: 8 May 2007: Lloyds TSB Dubai, the only Aaa rated bank in the UAE and part of one of the world's largest banking groups, today signed the contract confirming that it is offering mortgages on Al Hamra Real Estate's amazing Al Hamra Village and Royal Breeze developments in Ras Al Khaimah.

The Al Hamra Village project is a AED 2.5 billion premium real estate and tourism project in the northern Emirate of Ras Al Khaimah, renowned for its stunning natural scenery and laid back pace of life. The project is being implemented in phases and units are presently being delivered to national and expatriate homeowners at the Village.

Lloyds TSB has offered mortgages on freehold property in Dubai for over two years. The bank was the first to offer mortgages with no penalty for early settlement - a critical component of a mortgage in a predominantly expatriate market. Lloyds TSB also prides itself on offering its customers a very high level of customer service, taking them through, step by step, the home buying process.

Lloyds TSB is offering mortgages on each phase of the development, including the soon to be launched third phase, known as 'Royal Breeze'.

Dr Khater Massaad, Advisor to His Highness, the crown prince and deputy ruler of Ras Al Khaimah and Managing Director of AHRED, conveyed in his message

"People living and owning properties today at Al Hamra Village demonstrates our resolve to create and deliver world class user friendly communities for global citizens under the vision and leadership of His Highness Sheikh Saud bin Saqr Al Qassimi. We welcome Lloyds TSB to the Al Hamra Village family and this tie up represents our commitment to provide our customers with best services."

Steve Williams, Chief Operating Officer of Lloyds TSB Group Middle East, said:

"Al Hamra Village is a breathtaking development. It provides a unique contrast to the other residential developments in the UAE being so wonderfully located amongst the mountains of RAK. With prices lower than in Dubai, we are seeing lots of people consider properties here as second homes - luxurious beach side retreats seemingly miles from the hustle and bustle of Dubai, yet easily accessible."

Mr Frederic Piras, General Manager at AHRED, added

"Combining the cool environment of a 18 hole championship Golf Course, 200 birth marina facing the rolling waves of the Arabian Gulf, and lagoon setting with proximity to a luxury hotel and shopping mall adds to the allure of this freehold ownership project."

Maggie Timoney - Giles, Mortgage Sales Manager of Lloyds TSB Middle East, said:

"I am pleased that home buyers in RAK can now benefit from the high levels of customer service we have offered in Dubai for some time now.

We work closely with our mortgage customers from offer to ownership. We know that buying a home can be a stressful process and we aim to do our bit in making things as straightforward as possible."

The main branch of Lloyds TSB is in Jumeirah, housed in a custom built landmark

building, located on Al Wasl Road opposite Safa Park. The bank also has Customer Service Centres located at the Arabian Ranches, Healthcare City, Green Community and UPtown Mirdif. Lloyds TSB Dubai employs over 250 people providing a full range of financial services including: Personal Banking, Business Banking, Corporate Banking, Offshore Banking, Private Banking, Treasury Services and Trade Finance Services. In addition to market leading car and home loans, credit cards, personal and business loans, current and savings accounts, and fixed term deposits, Lloyds TSB Dubai also offers easy accessibility to telephone banking and secure internet banking 24 hours a day, 7 days a week.

-Ends-

Notes to Editors:
Lloyds TSB Dubai is a branch of Lloyds TSB Group, one of the world's largest and most respected banking groups. Lloyds TSB employs over 70,000 people in more than 20 countries worldwide. Lloyds TSB has been a leading bank in Dubai for over 30 years and was awarded its banking licence by the UAE Central Bank in 1977.

For more information, please visit www.lloydstsb.ae

For Further Information Please Contact:
John Hobday
Financial Dynamics
Telephone: 04 332 8832
Mobile: 050 464 8706
Email: john.hobday@fd.com

Manash Bhuyan
Financial Dynamics
Telephone: 04 332 8832
Mobile: 050 841 9631
Email: manash.bhuyan@fd.com  

Kirsty MacPherson
Lloyds TSB Bank
Telephone: 04 302 3307
Mobile: 050 456 9442
Email: Kirsty.Macpherson@lloydstsb.ae

Alexandra Lau
Lloyds TSB Bank
Telephone: 04 302 3357
Mobile: 050 640 4502
Email: alexandra.lau@lloydstsb.ae

© Press Release 2007