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29 December 2008

The transfer of the insurance business of Phoenix Life Assurance Limited (the Phoenix Life Assurance Scheme) and of around 600,000 protection policies from Scottish Mutual Assurance Limited and Scottish Provident Limited (the Royal London Scheme) to The Royal London Mutual Insurance Society Limited took effect at 11:55pm on 29 December 2008.

This follows the approval of the transfers by the High Court of Justice in England and Wales on 4 December 2008, of separate local transfers of certain policies under the Phoenix Life Scheme and the Royal London Scheme by the Royal Court of Guernsey on 9 December 2008, and of a separate local transfer of certain policies under the Royal London Scheme by the Royal Court of Jersey on 11 December 2008.

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