Press Release 78 Date 3.12.99

Subject: Murray Financial plc versus Leek United Building Society: Over 73% of Leek United members who voted say No! to Murray Storyline: “It’s High Noon for Murray!” We believe it is the end of the road for these particular ‘baggers. The Obituary This lunchtime it was announced that Murray Financial plc had suffered a devastating defeat -members have given a ringing endorsement to the continued mutual status of Leek United Building Society. This massive setback for Murray, inflicted today at Leek may be the final blow to a highly unsuccesful carpetbagging outfit; achieving nothing but spending a lot of their shareholders money. “Murray only succeeded in wasting a lot of money and resources belonging to the members of Leek United.” The wider picture “History will record that the heart of corporate carpetbagging was buried for good at Leek! Other companies thinking that they can get a fast buck from a ‘smash and grab’ raid on a mutual building society will think twice. “Murray may become the antidote that protects other mutual building societies from corporate carpetbagging.” “Remember Murray! Mutuals will say” It will become the firebreak. Joy and misery-“The joy of pro-mutual campaigners will be equalled only by the despair of carpetbaggers failing to get their hands on other peoples money.” Journalists might ask the question “Will Murray now go ‘belly up”? Ken Murray should have realised “which way the wind was blowing” when he had great difficulty even getting 100 nominations to hold the SGM. He should have walked away then! It was his one and only chance. What he has done is wasted a lot of money belonging to the members of Leek United. If it were possible Murray should be sued to get it back! “The mutual sector and Leek United in particular come out of this much stronger -if a little poorer.” The message of mutuality has been very effectively put across and people have listened and given mutuality a massive endorsement. “A great job by the Leek team!” Neil McFadden and his team have done a magnificent job on behalf of their members and mutuals everywhere. -“People paying mortgages, those relying on good interest rates for their savings, and staff have all triumphed.” Murray must be joking? After stating in the Leek Post & Times the local newspaper that “there are absolutely no hard feelings whatsoever” it was reported on radio that Murray are concerned that the vote was not conducted properly. We would remind Murray that the vote was conducted by the Electoral Reform Society. “Murrays remarks are ‘laughable’ and clearly motivated by desperation” Our parting word to Murray is that we will watch with interest as their shares are unfrozen after the failed bid result has been anounced.....and trading begins. Press Release by Bob Goodall co-ordinator “Save Our Building Societies” campaign tel 01727 847 370