Northern Rock PLC
21 January 2008


                       NORTHERN ROCK PLC (the 'Company')

                      TRIPARTITE AUTHORITIES ANNOUNCEMENT



The Board of the Company notes the announcement, by the Tripartite Authorities,
of the basis on which they will take forward discussions on a possible financing
structure for the Company in conjunction with a potential private sector
restructuring. The Board welcomes the Tripartite Authorities' confirmation of
their preference to reach agreement on a private sector solution for the Company
which meets the Tripartite's previously stated objectives to protect taxpayers,
consumers and to promote financial stability.

A private sector solution is also the Board's objective as being in the best
interests of its shareholders and other stakeholders.

The Board also notes the Tripartite Authorities' reaffirmation that the existing
guarantee arrangements for depositors remain in place. Savers' money remains
safe and secure in Northern Rock.

The timescales indicated by the Tripartite for the Company to conclude the
process remain consistent with the Company's previous guidance for its strategic
review process.

The Board will be working closely with the Tripartite Authorities and interested
parties (i) to enable interested parties to develop their proposals further, and
(ii) to develop the standalone options for the Company, in each case in light of
the financing structure outlined in today's announcement by the Tripartite
Authorities. This will be undertaken with the objective of enabling the Board to
determine at the conclusion of the strategic review process which option it
considers is in the best interests of the Company and its stakeholders.



City Contacts                      Press Contacts

Richard Moorin                     Brian Giles
Investor Relations                 Communications Director
0191 279 4093                      0191 279 4676

Simon Hall                         John C Watson
Investor Relations                 Corporate Communications
0191 279 6090                      0191 279 5295

                                   Ron Stout
                                   Corporate Communications
                                   0191 279 4921

                                   James Murgatroyd
                                   Finsbury Limited
                                   020 7251 3801



The Blackstone Group International Limited ('Blackstone'), Citigroup Global
Markets Limited ('Citi') and Merrill Lynch International, which are authorised
and regulated in the United Kingdom by the Financial Services Authority, are
acting exclusively for Northern Rock plc and no-one else in connection with the
matters referred to in this announcement and will not be responsible to anyone
other than Northern Rock plc for providing the protections afforded to clients
of Blackstone, Citi or Merrill Lynch International nor for providing advice in
relation to the matters referred to in this announcement.










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