Dr Kaihsu Tai

By e-mail: [FOI #8204 email]

Dear Dr Tai,

I am responding on behalf of UKFI to your Freedom of Information request around information on:

Following a search of our records, I can confirm that UKFI do hold information relating to your request. This information is all in the public domain, on the RBS and Lloyds Banking Group websites, and is therefore formally exempt under s.21 (information otherwise accessible). However, we recognise that it is not always easy to locate information and so to assist you I am providing this below.

UKFI was set up on 3 November 2008 to manage the Government's investments in financial institutions, including the Royal Bank of Scotland, Lloyds Banking Group, and in due course, Northern Rock and Bradford and Bingley. Currently we manage investments only in RBS and LBG.

As at 7 April, holdings in RBS and LBG were as follows.

Royal Bank of Scotland:

In accordance with the arrangements set out in Part III of the Placing and Open Offer prospectus dated 16 March 2009 (the "Prospectus"), at closing, HM Treasury will subscribe for the remaining 16,791,036,376 new RBS ordinary shares, for which valid acceptances were not received. As a result, HM Treasury will own approximately 70.3 per cent. of the enlarged issued ordinary share capital of RBS.

Lloyds Banking Group:

With regard to Northern Rock and Bradford and Bingley, Government owns 100%.

The details of the Asset Protection Scheme and the Recapitalisation of the banks, including the conditions placed on the banks can be found on the HM Treasury website.

You may be particularly interested in:

http://www.hm-treasury.gov.uk/press_105_08.htm

http://www.hm-treasury.gov.uk/press_19_09.htm

http://www.hm-treasury.gov.uk/press_07_09.htm

Key details of the Government investments in RBS and Lloyds following the Asset Protection Scheme can be found on the banks websites. You may be particularly interested in:

http://www.lloydsbankinggroup.com/media/pdfs/investors/2009/2009Mar7_LBG_Asset_Protection_Scheme.pdf

http://www.investors.rbs.com/investor_relations/announcements/ReleaseDetail.cfm?ReleaseID=367753

http://www.investors.rbs.com/investor_relations/announcements/ReleaseDetail.cfm?ReleaseID=359621

Yours sincerely,

Marie-Anne Barnes

UK Financial Investments

Your Rights to Complain under the FOI Act

If you are unhappy with the service you have received in relation to your request and wish to make a complaint or request an review of our decision, you should write within two months of the date of this letter to UK Financial Investments, G/08, 1 Horse Guard Road, London SW1A 2HQ. email - [email address]

If you are not content with the outcome your complaint, you may apply directly to the Information Commissioner for a decision. Generally, the ICO cannot make a decision unless you have exhausted the complaints procedure provided by UKFI. The Information Commissioner can be contacted at: The Information Commissioner's Office, Wycliffe House, Water Lane, Wilmslow, Cheshire SK9 5AF.

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