Exhibit 4.15

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|                                                                                                             | Ian
            K TreacyCompany Secretary | Abbey
        House
Baker Street
London NW1 6XL                                                                
|------------------------------------------------------------------------------------------------------------ | ----------------------------------------- | ---------------------------------------------------------------------------------------------------------------
|                                                                                                             |                                           |                                                                                                                
|The Lord
        Shuttleworth, D.L., F.R.I.C.S.,Leck Hall, Cowan Bridge,
Via Carnforth,
Lancashire, LA6 2JF. |                                           | Telephone:
          0171-612 4134
            Telex: 266103 ABBNAT G.
            Facsimile: 0171-486
    2764
|                                                                                                             |                                           |                                                                                                                

14th June 1996.

Dear Charles,

|I am writing to you with details about your forthcoming appointment as a director and Deputy Chairman, and we look forward to your attendance at your first Meeting on Tuesday 24th September 1996 at 9.30 a.m. here at Abbey House, Baker Street.
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|1.                                                                                                                                                                                                                                                
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|2.                                                                                                                                                                                                                                                
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|3. | SHARE
    DEALING CODE                                                                                                                                                                                                                                                                                                                                                                                                                                              | APPENDIX
          II                                                                                                                                                                                                                                                                                               
|-- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | As
      a Director of Abbey National plc you will be in regular receipt of potentially
      price sensitive information and accordingly you will be subject to the
      Company's Share Dealing Code. A copy of the Code is enclosed and I would
      be obliged if you could study this carefully, complete the receipt and
      return it to me. In particular may I draw your attention to the need to
    obtain prior clearance for any proposed dealing.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | If
      you do decide to deal in Abbey National shares then details have to be
      forwarded to the Company within five working days of the transaction and
      we are obliged to enter the details in statutory registers and immediately
    report such transactions to the Stock Exchange.                                                                                                                                                                
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | To
      facilitate tracking for compliance purposes we prefer that shares are not
    held in a nominee name.                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | Could
       I please ask you to consult with me if you intend to deal in Abbey National
       securities.                                                                                                                                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|4. | SHARE
    HOLDING IN ABBEY NATIONAL plc                                                                                                                                                                                                                                                                                                                                                                                                                             | APPENDIX
          III                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | Please
      advise me on the attached form of any share holding you or your spouse
    or infant children have in the ordinary shares of Abbey National.                                                                                                                                                                                                                                                                                                          
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   | I
       can confirm that there are no qualifying shareholding requirements on
    directors.                                                                                                                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|5. | REGULATORY
    FORMALITIES                                                                                                                                                                                                                                                                                                                                                                                                                                         
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                                                                                                                                                                                                                                                                                                     
|   | i
      .                                                                                                                                                                                                                                                                                                                                                                                                                                                           | The
    Securities and Futures Authority (SFA)                                                                                                                                                                                                                                                                      
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | Abbey
        National plc is in the process of applying for membership of the SFA
        in connection with a proposal to provide a sharedealing service. I am
        attaching a form which SFA requires all directors to complete and would
    be obliged if you could return it to me. Please do not date it.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |                                                                                                                                                                                                                                                                                                                     
|   | ii.                                                                                                                                                                                                                                                                                                                                                                                                                                                                 | Form
    288                                                                                                                                                                                                                                                                                                        
|   | .                                                                                                                                                                                                                                                                                                                                                                                                                                                                   | This
        is the standard Form of directors' consent which will be passed on to
        Companies House. Please complete and sign where indicated and return
      to me. Please do not date it.                                                                                                                 



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|   | iii.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | Declaration
    of a Director's Business Activities                                                                                                                                                                                                     | APPENDIX
    VI
|-- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ---------------
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         | This
      declaration is required by the Stock Exchange and I would be obliged if
      you could kindly complete the enclosed "Schedule 7", sign it, and return
      it to me for submission to the Stock Exchange. Again please do not date
    it. |                
|  
|.  | There
       are one or two other less critical forms I will have to ask you to complete
    but these can be dealt with after your appointment.                                                                                                                                                                                                                                                                                                                                                                                                                                       
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|6. | DURATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                        
|   | In
        accordance with standing Board resolutions and in the context of the
        Cadbury guidelines on corporate governance the appointment as a director
        is for three years. Thereafter, subject to mutual agreement, it may be
        extendible for a further period. The initial appointment will be formalised
        at the Board meeting in July or alternatively at a special Board meeting
        just before Vesting Day. Thereafter, you will be required to face election
      by our shareholders at the Company's Annual General Meeting in April1997.
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|7. | LOANS
      FROM ABBEY NATIONAL                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                        
|   | Please
       be good enough to advise me if you or any person connected to you is in
    receipt of any loan from Abbey National.                                                                                                                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                        
|8. | OTHER
    INTERESTS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                        
|   | Apart
       from entries in the statutory registers I would be obliged if you could
    notify me of any other interests which should be recorded by the Company.                                                                                                                                                                                                                                                                                                                                                                                                                     
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                        
|9. | PUBLIC
      ANNOUNCEMENT                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                        
|   | Notwithstanding
        the release of the Transfer Document and Prospectus we are obliged to
        inform the Stock Exchange of your appointment and the announcement will
        be made immediately following Board approval. Notification will also
      be made to the Press.                                                                                                                                                                                                                                                                                                 



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|10.     | DELEGATED
      AUTHORITIES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              | APPENDIX
            VII 
|------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | -------------------------
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|        | There
        is in existence a binder setting out the framework of high level Board
        controls and other authorities. This is currently being revised and will
      be approved by the Board in July. Accordingly, the attached copy is marked "draft".                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|11.**** | INDEPENDENT
      ADVICE                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|        | In
        the context of the Cadbury Report on corporate governancethere are provisions for directors to obtain independent professional advice.
      The attached note from the Chairman sets out how these arrangements operate.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     | APPENDIX
            VIII
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|12.**** | MEMORANDUM
      AND ARTICLES OF ASSOCIATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|        | I
        am attaching a copy of the Company's Memorandum andArticles of Association. These set out, inter alia, the powers of directors.
      I am always available to deal with any queries you may have on any aspect
      of the Company's governance arrangements.                                                                                                                                                                                                                                                                                                                                                                                                                                                                | APPENDIX
            IX  
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|13.     | DUTIES
      AND RESPONSIBILITIES OF DIRECTORS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|        | These
        are of course set out in English Company law but I can make various explanatory
      publications available to you if you feel any need for help in this regard.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|14.     | BOARD
      DATES                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        | APPENDIX
            X   
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|        | I
        attach a schedule of Board dates for the remainder of 1996 and also the
      schedule for 1997.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|15.     | DEPUTY
      CHAIRMAN                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    | APPENDIX
            XI  
|        |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         
|        | It
          is Abbey National practice that the Deputy Chairman (and the Chairman)
          is elected each year at the Board meeting immediately following the
          Annual General Meeting. As I think has been previously explained the
          Chairman's Committee meets twice per month. One meeting is usually
          (but not always) held the day before the Tuesday Board meeting whilst
          the other is held mid way between Board meetings. The scheduled dates
          are attached. You will also be invited to become a director and Trustee
          of Abbey National Charitable Trust Ltd. Part of the mid month meeting
          of the Chairman's committee is devoted to the Trust's affairs.



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|16.                                                                                                                                                                                                                                                                                                                                         | "TWINNING"                                                                                                                                                                                                                                                                                                                                                                                                                                  
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                            | We
       operate a practice whereby non-executive directors are "twinned" with
       an executive director. This provides you with the opportunity of getting
       to know a particular area of the Company's business in more detail and
       can be of help and assistance to the Executive concerned. I will discuss
       this with you in more detail after you have had an opportunity to get
       your feet under the table.
|                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                             
|17.                                                                                                                                                                                                                                                                                                                                         | FORTHCOMING
    FUNCTIONS                                                                                                                                                                                                                                                                                                                                                                                                                   
|                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                            | The
      Chairman has arranged for a working Dinner to be held on Monday 21st October,
      in Wiltons Restaurant, London. This function will be attended by the Chairman,
    Non-Executive Directors and Mr. Birch only.                                                                                                                                                                                                                
|                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                             
|                                                                                                                                                                                                                                                                                                                                            | We
      will be holding our usual Christmas function on Monday 16th December at
      the Savoy Hotel and I hope you and your wife will be able to attend. I
    will be circulating further details nearer thetime.                                                                                                                                                                                                                       
|                                                                                                                                                                                                                                                                                                                                            |                                                                                                                                                                                                                                                                                                                                                                                                                                             
|I apologise for the length of this engagement letter but we feel it is best to set out clearly from the beginning where we stand on these matters. Please feel free to call me if I can be of any help to you over completing the regulatory forms or on any other aspect of this letter. I look forward to working with you in due course.



Yours sincerely,



I.K. Treacy,
  Company
  Secretary.



c.c. : Lord Tugendhat, Chairman.

Encls:

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|b.c.c.
    : | Norman
          Wilkes, Deputy Secretary.Paul Coote, Director
    of Compliance.
    Leena Nagrecha, Assistant Secretary.
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