Transfer of Business - update 30 December 2008

The transfer of around 600,000 protection policies from Scottish Mutual Assurance Limited and Scottish Provident Limited to The Royal London Mutual Insurance Society Limited (the Royal London Scheme) took effect at 11:55pm on 29 December 2008. This follows the approval of the transfer by the High Court of Justice in England and Wales on 4 December 2008 and of separate local transfers of certain policies under the Royal London Scheme by the Royal Court of Guernsey on 9 December 2008 and the Royal Court of Jersey on 11 December 2008.