Press Release

NEW EQUIFAX SERVICE REUNITES CUSTOMERS WITH LONG LOST ACCOUNTS

Positive Locate tool traces dormant-account holders - enhancing customer relationships

London, 29th May 2009 - This year, the Government is tapping into an estimated £400m currently held in dormant bank and building society accounts. Any accounts which have seen no customer activity for 15 years or more will be closed and the money donated to various charities. And whilst this is undeniably a great way to make use of so much forgotten and, therefore, currently wasted money, for many lenders there will still be a desire to repatriate these funds with their customers for an enhanced on-going relationship.

Leading credit information solutions provider, Equifax, is addressing this challenge with the launch of its Positive Locate service. "Banks today hold thousands of dormant accounts, many of which have been entirely forgotten" confirmed Neil Munroe, External Affairs Director of Equifax. "Often this will amount to only a small amount in individual accounts, but it still belongs to customers. And, in the current climate, we believe it would be an incredibly positive experience for lenders to be able to remind their customers about these forgotten funds!"

Positive Locate is a quick, reliable and flexible way for businesses to reunite individuals with their money. If a customer has moved house or changed their name but did not inform their account holding bank, for example, it could provide an address at which the account holder is most likely to be reached - either the last known or possible future address. It will also inform lenders of individuals at the same address who have been recorded as deceased, so that they can contact spouses, co-inhabitants or family members without causing unnecessary distress.

Utilising Equifax's extensive consumer databases, Positive Locate is able to provide reliable and up-to-date results quickly and efficiently. Indeed, in a trial run by Equifax in 2008 for a certain High Street bank, results were returned for around 75% of the records. As a result of the trial, the bank has been able to re-unite thousands of customers with money held in dormant accounts.

"Through the use of this service banks could contact customers with whom they have lost touch, in order to inform them of any forgotten money - no matter what the sum involved, as searches are carried out quickly and easily online" concluded Munroe. "We believe this provides the lending community with an immensely cost-effective but powerful customer-enhancing opportunity."

ENDS

For further press information please contact: Wendy Harrison, Cecile Stearn, Margot Tomkinson or Jenny Staniforth at HSL on 020 8977 9132 / Fax: 020 8977 5200 or Email: margot@harrisonsadler.com