Introduction
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The Electronic Random Number Indicator Equipment, better known as
ERNIE was devised to select prize winners of Premium Savings Bonds.
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The initial concept of the machine was devised by Mr S.W. Broadhurst.
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Premium Bonds were officially launched on 1 November 1956 by Harold Macmillan,
Chancellor of the Exchequer.
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The first draw took place on 2 June 1957.
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Originally, there were 23 denominations of bond values.
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The minimum purchase was a £1 bond.
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The maximum purchase was a £500 bond.
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ERNIE's
History
The name's Bond, Premium Savings Bond...
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Dame Judi Dench officiates and announces the lucky winners in the prize
draw of 1st May 1962.
"In the early years Premium Bonds were the lottery of the day; celebrities
including Bruce Forsyth, Bob Hope and Dame Judi Dench announced the top
prizes"
Learn more about ERNIE's history
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Behind
ERNIE Mark 1
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Behind ERNIE Mark 1 - The opening of the exhibition at the Science Museum
26th June 2008
Photo © Light Straw Archive
After many years in storage, ERNIE Mark 1 has been painstakingly cleaned,
re-assembled and re-housed in a custom designed showcase for display in the
computing section of the Science Museum.
Learn more...
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ERNIE 4
The power behind Premium Bonds...
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Today, ERNIE is a commercially produced chipset on a printed circuit board.
He can generate more numbers, faster than ever before.
ERNIE is still the power behind Premium Bonds.
Learn more about ERNIE 4
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ERNIE
Today
This is the flyer you are likely to see when you are
lucky enough to win a prize
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All Premium Bonds, including the original Series A and those bought since,
are eligible for the prize draws, subject to the current terms and conditions
specified by NS & I
which are updated from time to time.
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It is worth noting for all series of Premium Bonds:
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All Bonds are now eligible to enter the prize draw after just one month
after purchase.
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Customers are entitled to hold up to £30,000 worth of Premium
Bonds.
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When a Premium Bond Holder dies, his or her Bonds can stay in the draw
for a year, with all prizes going to the Estate. After a year the Bonds are
no longer eligible and it is recommended that the Estate arranges to cash
them in.
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The minimum purchase is £100
Number Crunching Times April 2009
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"In the current low interest rate environment, our customers have told
us how important winning prizes regularly is to them. We've listened and
made changes as a result - turn over to find out more.
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From 1 April we have:
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introduced a new £25 prize alongside the existing prizes
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replaced one of the two monthly £1 million jackpots with a wider
mix of other prizes
Although our prize fund rate has reduced to 1.00% following recent
cuts to the Bank of England base rate, we guarantee to maintain this rate
for at least the April, May and June 2009 draws. The new £25 prize has
allowed us to keep the chances of each bond winning a prize at 36,000 to
1, even with the lower interest rate.
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Some things haven't changed. Any prizes you win are still free of UK
Income Tax and Capital Gains Tax. And the money you've invested in Premium
Bonds is backed by HM Treasury so is still 100% secure."
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For the very latest, up to date details, please visit the National
Savings and Investments website. Click on the link below...
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& References |
| With thanks to the Science Museum, NS
& I and BT Archives. |
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If you have a query about money or bonds held in National Savings,
please visit the National Savings &
Investments site.
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National Savings and Investments is a Trade Mark
of the Director of Savings. All other logos and trade marks are the property
of their respective owners and are used on the Light Straw site(s) for review
only.
Compiled by Light-Straw
© 1997-2010 |
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