DEPRESSED stock markets, fears of a war... it's enough to drive investors to distraction.

But for Blackpool it's not all bad news as the money-minded rush to put their money into premium bonds instead.

At the National Savings and Investments (NS&I) office on Preston New Road, staff have announced a massive increase in the sales of the bonds which can earn holders up to £1 million in monthly prize draws.

And the Premium Bond is now being seen by investors as a very attractive proposition according to NS&I chiefs.

"We believe it's because of uncertainty in the stock market and because there's low savings rates," said NS&I spokesman Mark Brooks.

"And increasingly people are looking for a more fun way of investing their money."

Harold Macmillan, then Chancellor of the Exchequer, launched in the scheme in November 1956 and since then more than 20 million bond holders have taken part in the monthly draw.

The amount invested in Premium Bonds has risen 700 per cent over the last ten years. And this February a record 18 billion bonds were entered into the prize draw.

All of which is good news for the 700 staff employed at Blackpool's massive Marton office.

Although spokesman Mark wasn't sure if the massive surge of sales would lead to even more jobs for Blackpool workers, he did highlight Marton's already large, modern call centre dealing with customer queries on all of NS&I's products.

The site is also home to Ernie, the famous Electronic Random Number Equipment that chooses Premium Bond winners, and Agent Million, an anonymous worker whose job involves visiting £1m winners to tell them in person about their good fortune.

"Blackpool is the home of Premium Bonds and always has been," Mark said.

"We are proud of our association with Blackpool and the surrounding area because the staff have given an excellent service to our customers.

"People in Blackpool have made a significant contribution to the success of Premium Bonds," he added.