VIRGIN MONEY LAUNCHES IN THE U.S. TO GIVE BORROWERS AND LENDERS A BETTER DEAL AND BETTER EXPERIENCE

People have rights when it comes to money – loans that fit their needs, ability to help loved ones and good deals – according to the Virgin Money Bill of Rights

Boston, MA · October 15, 2007 /PRNewswire/ — Virgin Money USA, the financial services company that will challenge the way consumers think about and manage their finances, storms the United States personal finance scene today.

Virgin Money manages loans and mortgages between relatives and friends, offering consumers a unique product line that delivers a customer experience that most banks and lending companies cannot match. With interest rates that are typically two-to-three percentage points lower than what a bank charges, coupled with flexible repayment schedules, Virgin Money is a financial services company that allows consumers to take major steps toward achieving their personal dreams, with help from friends and family.

Virgin Money USA President and CEO Asheesh Advani and Sir Richard Branson, founder and chairman of the Virgin Group, will be on hand to kick off the spirited festivities in Boston's Copley Square today at noon, with a Virgin-worthy event that is expected to reel in crowds to experience the financial freedom Virgin Money will deliver to U.S. consumers.

"We are literally changing the face of money by empowering people to realize their hopes and dreams, all while keeping money within the family," said Branson. "Consumers deserve to have rights when it comes to their money—the right to choose loans that fit their needs, the right to use money to help loved ones, and the right to a brilliant deal."

"Our goal is simple—to provide a service that allows for more choices, a surer fit and ultimately, a better deal," said Advani.

To date, consumers are presented with standardized financial products. To combat this, Virgin Money will act as a competitive alternative, with products and services that meet consumers' needs, offering:

Flexibility to ensure the right fit in every case,
Affordability to help borrowers access capital, and
Specialized loan management to protect money and relationships

Virgin Money gives consumers the tools and resources to confidently have open dialogue with family and friends about money. The product line currently includes a suite of financial offerings to help customers determine the best available options for their individual situations:

Handshake Plus: a simple and smart way to manage loans with family and friends for a car, tuition payment, credit card debt, wedding, or virtually anything else; the borrower and lender mutually decide on interest rates and repayment schedules.
Business Builder: for coordinating business loans between friends, family, and business associates for start-ups that typically would have a difficult time getting bank financing.
Family Mortgage: a private loan between friends and family secured by real estate and used toward the purchase of a home, allowing borrowers to deduct interest payments just as if they had borrowed from a bank.
Retirement Mortgage: for house-rich, cash-poor homeowners to get money without losing the family home to the bank; similar to a reverse mortgage, but without the costs and restrictions.

"Virgin Money allows us to reach higher and farther than ever before for our clients, bringing money and people closer together," said Advani. "The Virgin brand symbolizes freedom, the best in customer service and value for money, a philosophy that matches the dreams of our clients."

About Virgin Money USA

Virgin Money USA is a financial services company committed to offering consumers alternatives to traditional and costlier forms of credit. The company provides a safe and easy way for people to make loans between relatives and friends -– thereby helping people to arrange affordable loans without hurting their relationships, to enjoy the benefits of flexible loans that fit their needs and to keep money where it belongs – in the family. With interest rates that are typically lower than what a bank charges, coupled with flexible repayment schedules, Virgin Money allows consumers to take major steps toward achieving their personal dreams, with help from friends and family. Visit us at www.virginmoneyus.com.

About Virgin USA

Virgin USA, a leading branded venture capital organization, is one of the world's most recognized and respected brands. Virgin USA oversees and is responsible for the expansion of the Virgin brand in North America, blasting into markets where the customer is underserved, offering value for money, good quality, innovation, exceptional customer service, fun and a sense of competitive challenge. Existing businesses include Virgin Atlantic Airways, the award-winning transatlantic airline; Virgin Mobile USA, the leading wireless youth network; Virgin Megastores, the groundbreaking music stores; and Virgin America, the new domestic airline. Building upon the success of these businesses, Virgin USA continues to look for opportunities in North America where it can offer something better, fresher and more valuable to consumers.