ONE Savings Bank PLC : Director/PDMR Shareholding

Pursuant to its obligations under Disclosure and Transparency Rule 3.1.4R(1)(a), OneSavings Bank plc (the 'Company') notifies the following changes in the interests in the ordinary shares of 1p each of the Company ('Shares') of the executive directors and other persons discharging managerial responsibilities ('PDMRs') arising from awards granted under the deferred share bonus plan ("DSBP"), and performance share plan ("PSP") on 18 March 2015.  A share price of 219p per share has been applied to determine the number of Shares awarded under each of the plans.

Full details of the plans will be published within the Company's Annual Report 2014 on 31 March 2015.

Deferred Share Bonus Plan Awards

The purpose of the DSBP is to facilitate the deferral of all or part of the Senior Leadership Team's annual bonus into Ordinary Shares.  Awards will normally vest three years after grant, provided the participant is still employed in the Company's group. DSBP awards will not be subject to performance conditions.  On vesting, awards in the form of nil (or nominal) options will normally be exercisable up to the tenth anniversary of grant unless they lapse earlier

The following DSBP awards have been granted to the following executive directors and other PDMRs on 18 March 2015 (these grants took place at Reliance House, Sun Pier, Chatham, Kent ME4 4ET):

		Number of DSBP Shares awarded 2015
Executive directors
Andy Golding		79,307
April Talintyre		54,906
Other PDMRs
Jens Bech	36,754
Zoe Bucknell	22,123
Richard Davis	21,366
John Eastgate	28,230
Clive Kornitzer	31,731
Mark Paskowitz	21,358
Richard Wilson	21,214

These DSBP awards vest on 18 March 2018

Performance Share Plan Awards

Any employee of the Company and its subsidiaries will be eligible to participate in the PSP at the discretion of the Remuneration Committee.  Awards will be made to Executive Directors and the Senior Leadership team, based on a mixture of internal financial performance targets and relative Total Shareholder Return.  Any vesting will be subject to an underpin, whereby the Remuneration Committee must be satisfied that the business has operated within the Board's risk appetite framework. This takes into account capital adequacy, liquidity, credit risk, operational risk and conduct & compliance risk.  The performance targets will be measured over three financial years.  Clawback and malus provisions apply and are structured as for the annual bonus.

The following PSP awards have been granted to the following executive directors and other PDMRs on 18 March 2015 (these grants took place at Reliance House, Sun Pier, Chatham, Kent ME4 4ET):

	Number of PSP Shares awarded 2015
Executive directors
Andy Golding	171,233
April Talintyre	121,005
Other PDMRs
Jens Bech	75,114
Zoe Bucknell	34,247
Richard Davis	28,881
John Eastgate	53,699
Clive Kornitzer	60,731
Mark Paskowitz	33,105
Richard Wilson	34,247

In summary:
1.   the beneficial interests in the ordinary share capital of the Company of those executive directors and other PDMRs who have been granted Deferred Share Bonus Plan and Performance Share Plan awards prior to these awards being made were:

	Interest in Company shares prior to these awards	Outstanding Deferred Share Bonus awards prior to this award	Outstanding Performance Share Plan share awards prior to this award	Outstanding Sharesave awards
Executive directors
Andy Golding	3,823,522	0	0	0
April Talintyre	1,529,415	0	0	6,716
Other PDMRs
Jens Bech	1,529,415	0	0	6,716
Zoe Bucknell	607,901	0	0	6,716
Richard Davis	260,879	0	0	6,716
John Eastgate	1,137,387	0	0	6,716
Clive Kornitzer	1,147,054	0	0	6,716
Mark Paskowitz	223,611	0	0	0
Richard Wilson	260,879	0	0	0

2.   the beneficial interests in the ordinary share capital of the Company of those executive directors and other PDMRs following the making of the awards detailed above on 18 March 2015 are:

	Interest in Company shares at 18 March 2015	Deferred Share Bonus awards at 18 March 2015	Performance Share Plan share awards at 18 March 2015	Sharesave awards at 18 March 2015
Executive directors
Andy Golding	3,823,522 (1.57%)	79,307	171,233	0
April Talintyre	1,529,415 (0.63)	54,906	121,005	6,716
Other PDMRs
Jens Bech	1,529,415 (0.63%)	36,754	75,114	6,716
Zoe Bucknell	607,901 (0.25%)	22,123	34,247	6,716
Richard Davis	260,879 (0.11%)	21,366	28,881	6,716
John Eastgate	1,137,387 (0.47%)	28,230	53,699	6,716
Clive Kornitzer	1,147,054 (0.47%)	31,731	60,731	6,716
Mark Paskowitz	223,611 (0.09%)	21,358	33,105	0
Richard Wilson	260,879 (0.11%)	21,214	34,247	0

Name of authorised official of issuer responsible for making notification:

Zoe Bucknell
Group General Counsel and Company Secretary

Tel:  [phone]

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ONE Savings Bank PLC via Globenewswire

HUG#1908215