amazing what you can discover when you are not trying

so who are sav-credit ?

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Contact Us

For PR contacts please use the links on the left.

For enquiries direct to SAV Credit:

1st Floor

11 Tower View

Kings Hill

West Malling

Kent ME19 4RL

Switchboard tel: 01732 879900

[email protected]

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http://www.savcredit.co.uk/

" Welcome to the website of SAV Credit, the company which provides the aqua MasterCard. The aqua card is aimed at those people who are often overlooked by other credit card companies. Research carried out by aqua shows there are large numbers of deserving and very creditworthy people who are denied access to credit. "

however

"

SAV CREDIT ACQUIRES MARBLES CREDIT CARD BRAND

FOR IMMEDIATE RELEASE

30th October 2007

SAV Credit Limited has completed the purchase of a portfolio of credit card accounts from HSBC Bank plc for a consideration of approximately £385 million. The acquisition includes the marbles credit card brand and consists of 338,000 customer accounts.

The acquisition is funded by a new debt facility from The Royal Bank of Scotland and by SAV Credit’s existing private equity partners including Palamon Capital Partners, Electra Private Equity, and Morgan Stanley Alternative Investment Partners.

SAV, which was founded in 2001 as provider of credit cards to consumers who are overlooked by mainstream financial services providers, has already opened more than 150,000 credit card accounts for its lead product the aqua MasterCard and plans further expansion.

The company is managed by a specialist team from within the credit card industry and is built around information-based risk management techniques. SAV has developed its own underwriting and account management models which allow it to operate successfully in its target market.

Richard Langstaff, SAV Chief Executive Officer and founder, said: “This is a major landmark in the development of SAV Credit and we are delighted to have completed this major acquisition.

“We have extensive experience of the credit card market and have built specialist expertise in growing and managing credit card portfolios. This deal enables us to transfer our expertise to the marbles brand.

“We regard this deal as a vote of confidence from shareholders in our plans for expansion. We

are delighted to welcome The Royal Bank of Scotland which has provided the debt facility for this deal.”

Steve Britain, Head of Consumer Cards, HSBC Bank plc said "We are fortunate to have a number of strong brands with which to grow our cards business in the UK.

“These include HSBC and first direct and, through our relationships with major retailers, M&S and John Lewis. The marbles and Beneficial brands are not a core part of this strategy, and accordingly, we are pleased to have sold the portfolios to SAV."

HSBC is one of the UK’s top four card issuers, with over 10 million cards in issue and receivables of £8 billion.

For further information please contact:

Jonathan Flint / Kevan Reilly

Citigate Dewe Rogerson

Tel: 020 7638 9571

About SAV Credit

SAV Credit, a financial services business built by a management team from within the credit card industry, has developed the aqua credit card for the underserved market in the UK. SAV was founded in January 2001 by Chief Executive Richard Langstaff, who has held senior investment banking roles with Citibank and Deutsche Bank. SAV is chaired by John Crewe, a former President of International Marketing and Development, Global Financial Services Group at American Express. It is backed by management and a group of leading private equity investors including Palamon Capital Partners, Electra Private Equity and Morgan Stanley Alternative Investment Partners.

To find out more about SAV Credit visit www.savcredit.co.uk "

investors in sav-credit

INVESTORS

Palamon Capital Partners London

Morgan Stanley London

Acus London

Audant Sydney Australia

Electra Private Equity London

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• When was SAV founded?

SAV Credit was founded in January 2001 by chief executive Richard Langstaff and developed by a management team from within the credit card industry. SAV are the only UK company focused on offering a general credit card to the underserved market.

• Who owns it and how is it funded?

SAV is privately-owned and backed by a group of leading private equity investors including Palamon Capital Partners, Electra Private Equity, Morgan Stanley Private Equity, Consulta Limited , Acus and Audant Investments. Lead bankers are CSFB and NM Rothschild. SAV are a well-funded business with a very strong management team.

THE FACT IS SAV-CREDIT IS JUST ROUND THE CORNER (HAVE CHECKED ON STREETMAP.CO.UK) FROM

PURE CHANCE

???

Hmmmm.

SAV are also behind the Aqua high interest rate credit card with HBOS.

If you ever pop down to kingshill, the whole place is like a trading estate for office space. There are few financial institutions that have offices there, including Cabot and Barclays.....

I think all these companies just like to be close to each other, don't think they like to feel lonely....

There has been a great deal of investigation done in relation to Cabot and their ties with other companies, I don't think there was anything to link them with SAV except that they may buy debts from them

THANKS we bow to your superior local knowledge !!! think we've come to a "." full-stop

THANKS we bow to your superior local knowledge !!! think we've come to a "." full-stop

I've taked about SAV long before now (March 2007 in fact) and Richard Langstaff in particular

Post #45 here > http://www.consumeractiongroup.co.uk/forum/cabot/67053-information-cabot.html?highlight=langstaff

ThePressDesk.com

htZZZZZtp://www.thepressdesk.com/savcredit/home.php[LINK DELIBERATELY RUINED!!! --- ]--- you all know how to fix this second link!!

Key Management

Richard Langstaff, Chief Executive Officer Richard Langstaff is the founder of SAV Credit. Richard previously held senior investment banking roles with Citibank and Deutsche Bank.

Dave Smith, Chief Operating Officer Dave Smith brings to the team over 15 years experience across the world in consumer credit, 10 of these years with GE Capital. Prior to joining SAV, Dave was Director of Risk for the Royal Bank of Scotland Cards business, Europe's second-largest card issuer. SO EXPECT TO BUY "DIRTY WASHING" FROM HERE !!

Mark Robinson, Director of Marketing Mark Robinson has over 10 years experience in the credit card industry. Prior to joining SAV Credit he was Group Marketing Director for HFC Bank, the consumer finance division of HSBC, responsible for all aspects of marketing across a range of products and services. These included credit cards, direct and branch-based lending and point-of-sale finance. Prior to HSBC Mark worked for HFC's US card business BOUGHT "DIRTY WASHING " FROM HERE !!!! --- WHAT A SURPRISE "MARBLES SPANS THE UNIVERSE"

REMEMBER "MARBLES" CAN QUITE EASILY DO DOWN THE DRAIN ..... HISTORY HAS PROVED THIS !!!

now deutsche bank is mentioned in the mbna securisation cases v vat people as having a "part" in the securisation siv's etc

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fact----siv's are not allowed to be underwritten so the fsa says

fact sav -- have their own underwriting facility as per the link

(2 irrelevant facts)