Notice under the Financial Services and Markets Act 2000

Involving

Phoenix & London Assurance Limited (“PALAL”)

(formerly known as Sun Alliance and London Assurance Company Limited)

-and-

Canada Life Limited (“CL”)

On 26 August 2005 an Application was made to the High Court of Justice in London by PALAL and CL for an Order under Section 111(1) of the Financial Services and Markets Act 2000 (the “ Act ”) approving a scheme (the “ Scheme ”) providing for the transfer by PALAL to CL of certain non-profit pension annuities issued by PALAL.

Copies of the report on the terms of the Scheme prepared by an independent expert in accordance with section 109(1) of the Act and of an explanatory statement (comprising a letter to policyholders, an explanatory booklet and a question and answer leaflet) setting out the terms of the Scheme and containing a summary of the independent expert’s report may be obtained free of charge by calling 0845 070 4060. The explanatory statement, the full Scheme document, the full report of the independent expert and a report from the Heads of the Actuarial Function of each of PALAL and CL are also available via PALAL’s website, www.phoenixlifegroup.co.uk, or by request in writing to The Part VII Transfer Department, PO Box 5524, 100 Holdenhurst Road, Bournemouth BH8 8ZW.

The Application is due to be heard at the Royal Court of Justice, Strand, London WC2A 2LL on 9 December 2005. Any person (including any employee of PALAL or CL) who thinks that he or she would be adversely affected by the carrying out of the Scheme may attend the hearing and express their views. Anyone wishing to do so is asked to inform either of the Solicitors named below in writing at least two clear days prior to the date of the hearing. Anyone who is not going to attend the Court hearing but wishes to make any written representations about the Scheme should address them to either of the Solicitors named below at least two clear days prior to the date of the hearing.

Dated: 16 September 2005

Slaughter and May	Herbert Smith LLP
One Bunhill Row	Exchange House
London	Primrose Street
EC1Y 8YY	London EC2A 2HS
Ref: ACC/RJZS	Ref: 5648
Solicitors to PALAL	Solicitors to CL