Royal London
March 10th 2010

Phoenix Life Assurance Limited

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29 December 2008

The transfer of the insurance business of Phoenix Life Assurance Limited to The Royal London Mutual Insurance Society Limited (the Phoenix Life Assurance 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 a separate local transfer of certain policies under the Phoenix Life Assurance Scheme by the Royal Court of Guernsey on 9 December 2008.

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