Cheshire Building Society is increasing the rate on its popular 50 Plus Freedom savings account on the day the Bank of England announced a 0.25% base rate rise. From the 11th November, the product will offer a rate of 5.10% AER (monthly 4.98% gross, annual 5.10% gross).

The 50 Plus Freedom account was designed to meet the needs of the investor aged 50 and over and offers one of the best rates currently available on the market (Moneyfacts 7th November 2006). The rate on the account is guaranteed not to fall below the Bank of England base rate until the end of 2010 and offers holders penalty-free withdrawals if the minimum balance of £5,000 is maintained. There are no restrictions on the number of deposits which can be made.

The Cheshire is reviewing the rates across the entire investment portfolio and will announce any changes before the end of November.

Jo Allan, Marketing Manager – Investment at Cheshire Building Society said: “As the 50 Plus Freedom was only recently introduced and is one of our most popular accounts, we wanted to react quickly and pass the benefit of the Bank of England base rate rise on to account holders. We are currently reviewing all of the Society's other products and will be adjusting rates shortly.”

For further information visit Cheshire Building Society's website at www.thecheshire.co.uk, contact the customer contact centre on 0845 055 5995 (all calls charged at local rate). Lines open 8am-8pm weekdays, 9am-4pm Saturday. For security and training purposes, telephone calls maybe monitored or recorded, or make an appointment at your local branch.

The Cheshire was established in 1870 The Cheshire is the 11th largest building society in the UK The Cheshire has a 49 branch network serving approximately 450,000 members The Cheshire has branches in Cheshire, Lancashire, North Wales, Derbyshire and Staffordshire The Cheshire offers services and products across the full range of financial needs including mortgages, investments, credit cards, insurance and estate agency The Cheshire's charity for 2006 is ChildLine

Cheshire Building Society is authorised and regulated by the Financial Services Authority (registration number 206102). The Society represents only the Norwich Union Marketing Group members of which are also authorised and regulated by the Financial Services Authority. Designated investment products and services offered will relate only to the Society and Norwich Union Marketing Group.

- Ends -

For further information, contact: Julie Mazzei, Cheshire Building Society Tel: 01625 652 582 Email: Julie.Mazzei@thecheshire.co.uk