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The Financial Secretary to the Treasury, Stephen Timms, has appointed Paul Spencer as the new chairman of the board of NS&I, the government backed savings and investments provider, from 1 January 2005.

NS&I, the government-backed savings and investments provider, has won two awards at the Institute of Financial Services (ifs) Financial Innovation Awards 2004, including the coveted Grand Prix award for outstanding innovation and achievement.

In the same week National Savings and Investments launches another of its FTSE 100-beating guaranteed equity bonds, the government-backed savings and investments provider today announces its annual results and publishes its Annual Report and Accounts for the year to 31 March 2004.

Investors are being given a second opportunity to see their savings outperform the FTSE 100 index with the launch of another Guaranteed Equity Bond from NS&I.

National Savings and Investments (NS&I) today launched ERNIE 4 (Electronic Random Number Indicator Equipment) at the Science Museum, London, bringing all four generations of ERNIE together for the first time.

New Guaranteed Equity Bond from National Savings and Investments offers 110% of any growth in FTSE 100 index with complete capital protection.

From today, Britain's savers will be able to open an Easy Access Savings Account, the new flexible, safe, straightforward and convenient account from NS&I.

NS&I is to launch a new instant access savings account, the Easy Access Savings Account, on 29 January 2004, offering customers an easy, safe, straightforward and convenient way to save, together with competitive interest rates.

New style Guaranteed Equity Bond from National Savings and Investments provides unlimited growth potential with 100% capital protection.

£784 million net financing to government in 2002-03 and plans to increase funds by an extra £10 billion by 2007-08