Launch of Interactive Banking by Mobile Phone

Woolwich PLC
2 February 2000



THE WOOLWICH PARTNERS VODAFONE AND NOKIA TO BE FIRST IN UK TO OFFER
INTERACTIVE BANKING BY WAP MOBILE PHONE

One hundred customers from The Woolwich today become the first people in the
UK to be able to run all their personal finances on the move using a WAP
mobile phone.  They are all customers of The Woolwich's Open Plan integrated
banking service and can now view balances and transactions, pay bills and
transfer money through a secure Internet link made possible by Wireless
Application Protocol (WAP) technology.

This first group of one hundred customers marks the start of a commercial
partnership between The Woolwich and Vodafone, using Nokia's revolutionary WAP
telephone, to  develop and market a strong consumer mobile E-commerce
proposition. 

The first hundred customers have been provided with a Nokia 7110  WAP phone
and, from Vodafone, line rental for one year.  In return they have been asked
to access their accounts regularly over the Internet using their mobile phone
and provide user feedback.  From April, all Open Plan customers will be able
to access their Woolwich accounts - not just current accounts, but also
savings and borrowings - through a WAP mobile phone.  

Using the service, customers can transfer money between accounts, including
savings to mortgage with the added option of post-dating a transaction by up
to six weeks.  In addition bills can be paid, transactions viewed and
balances/valuations on accounts checked.

As well as managing their personal finances, customers can also access
information services including news, weather and sport.  Already, at the start
of development, this will enable the customer to stay up-to-date while on the
move.  Shortly customers are likely to have access, through this service, to a
wider range of information and even be able to go mobile-shopping, paying for
goods bought on the Internet direct from their WAP mobile phone. 

Announcing the launch, John Stewart, Chief Executive of The Woolwich said: 
'Open Plan is not a series of accounts, but a new approach to banking.  As
part of its development we are launching a groundbreaking service today, the
first of its type in Europe outside Scandinavia, which goes well beyond the
text message-based mobile banking services currently on offer.   In future our
customers will be able manage their personal finances wherever they are  in
the world through any electronic channel or, if they prefer, use the telephone
or visit a branch.  This is real anytime, anywhere, anyhow banking. 

But this is just the start.   With technology moving ever faster, the
boundaries of the possible are being constantly pushed back.  The potential
benefits to consumers, and the commercial benefits to The Woolwich from active
participation in these developments are huge.  Mobile phone Internet users are
forecast to outstrip PC Internet users and we intend to capitalise on these
developments through on-going partnerships with world leaders in mobile
communications, Vodafone and Nokia.'

Vodafone UK Chief Executive, Peter Bamford commented: 'This is the first
example of mobile banking over WAP in the UK and Vodafone is excited to be
part of this groundbreaking service with The Woolwich.'  He continued:  'We
will continue to work with The Woolwich to achieve our objective to become the
UK's leading mobile commerce operator through the Vodafone Interactive
service, enabling our customers to carry out financial transactions anytime,
anywhere, giving them a bank in their pocket.'


Contact Details: 
                                                      
Raghnall Craighead, Investor Relations Manager Tel: [phone]