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Media centre /
Press releaseNS&I SIGNS PARTNERSHIP DEAL WITH WHSMITH 21 August 2007NS&I (National Savings and Investments) has teamed up with leading UK retailer WHSmith to market Premium Bonds and Inflation-Beating Savings in 400 of its High Street stores. The same range of NS&I products will also be trialled in a further 20 WHSmith Travel stores, located in airports and railway stations. The partnership will enable WHSmith customers to pick up brochures for two of NS&I's products which are free of UK income tax and capital gains tax – Premium Bonds and its range of Inflation-beating Savings. They will be able to invest in these two leading NS&I products by telephone or online. The partnership will begin on 1 November 2007 and the initial phase will be concerned with testing logistics and marketing opportunities, and gauging customer reaction. Full marketing activity is planned to start on 1 April 2008. How the partnership will workNS&I chose WHSmith to market its products to make it easy and convenient for people to save and invest while shopping at these stores. This will be achieved through WHSmith’s proven retail experience, in-store marketing opportunities and access to just over 1.2 million people who visit a WHSmith High Street store every day of the year. To build on its existing customer base of 27 million people with more than £80 billion invested, NS&I is seeking new ways of reaching out to an even wider audience. Signing up new partners to market its products is one way of achieving this aim. Jane Platt, NS&I chief executive, said: “This new marketing partnership gives WHSmith the opportunity to offer convenience for customers, and the opportunity for customers to find out more about our savings and investments. It means we have an additional retail channel to work alongside our strong and long-standing partnership with the Post Office. This is an exciting time in NS&I’s development and means we can reach a wider audience in WHSmith stores across the country.” Kate Swann, WHSmith group chief executive, said: "We are delighted to be working with NS&I, one of the UK’s largest providers of savings to personal savers and investors. This partnership will enable WHSmith to further enhance our customer offer by giving our customers the opportunity to purchase NS&I products from their local WHSmith store.” ENDS Notes to Editors National Savings and Investments NS&I, established in 1861, is a Government department and an executive agency of the Chancellor of the Exchequer. It offers a range of savings products through a network of 14,300 Post Office branches, over the telephone, internet, post and by standing order. It has 27 million customers and £80 billion funds invested. All products offer 100% security because they are backed by HM Treasury. For the first time in six years, NS&I has been advertising its Premium Bonds and inflation-beating range of Index-linked Savings Certificates on television and also since August, NS&I has been giving away two £1 million jackpot Premium Bond prizes as well as more than 1 million other tax-free prizes. WHSmith WHSmith PLC is made up of over 500 high street stores and around 250 retail units in airports, rail stations and motorway service areas. The high street business sells a wide range of newspapers, magazines, stationery, books and entertainment products, while WHSmith Travel sells a tailored range of newspapers, magazines, books and confectionery products for people on the move. In addition, WHSmith direct- www.whsmith.co.uk serves customers on the internet 24 hours a day. Premium Bonds NS&I’s flagship product is Premium Bonds. With a customer base of 23 million people, not far short of half the adult population of the UK, own Premium Bonds, and the total sum invested is more than £32 billion. The current prize fund rate is a tax-free 4.00%p.a. Inflation-beating Index-linked Savings Certificates Index-linked Savings Certificates were launched in 1975 and provide a tax-free return guaranteed to beat inflation (RPI). They are currently available in three and five year Issues. The current rates are: 3-year (15th Issue) 1.35% plus RPI and 5-year (42nd Issue) 1.35% plus RPI guaranteed compound when held for the full term. The process The deal was signed on 10th August 2007 after a process to seek out, establish and maintain distribution partnerships with a wide range of organisations across a variety of sectors, including supermarkets, member organisations and high street retailers. In August 2004, NS&I issued a request for proposal through the Official Journal of the European Union. As a government department, NS&I is required to operate a strict procurement process. The notice in the Official Journal of the European Union also stated that NS&I would seek to partner with just one organisation in a number of different retail sectors. The notice attracted significant interest from many types of organisations, including WH Smith. At this stage, NS&I has chosen the high street retail sector in which to establish this deal. During 2007, NS&I reviewed all proposals from the high street sector and, in early August, NS&I’s Board made the decision to seek a marketing partnership contract with WHSmith.
Media team The numbers below are for media use only. Customers wishing to contact NS&I can find details here.
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