NEWS RELEASE

ISDA Credit Derivatives Determinations Committee: Northern Rock Asset Management Credit Event

LONDON, December 19, 2011 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its EMEA Credit Derivatives Determinations Committee resolved that a Restructuring Credit Event occurred in respect of North Rock Asset Management Plc.

The Committee determined that an auction will be held in respect of outstanding CDS transactions. ISDA will publish further information regarding the potential auction on its website, www.isda.org/credit, in due course.

For More Information, please contact:
Rose Millburn, ISDA London, +44 203 088 3526, rmillburn@isda.org
Rebecca O’Neill, ISDA London, +44 203 088 3586, roneill@isda.org
Lauren Dobbs, ISDA New York, +1 212 901 6019, ldobbs@isda.org Donna Chan, ISDA Hong Kong, +852 2200 5906, dchan@isda.org

About ISDA
Since 1985, ISDA has worked to make the global over-the-counter (OTC) derivatives markets safer and more efficient. Today, ISDA is one of the world’s largest global financial trade associations, with over 825 member institutions from 58 countries on six continents. These members include a broad range of OTC derivatives market participants: global, international and regional banks, asset managers, energy and commodities firms, government and supranational entities, insurers and diversified financial institutions, corporations, law firms, exchanges, clearinghouses and other service providers. Information about ISDA and its activities is available on the Association’s web site: www.isda.org.

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