Reduction of Capital

SCOTTISH AMICABLE LIFE PLC

Further to a Petition presented to the Court of Session by Scottish Amicable Life plc, a Company incorporated in Scotland under the Companies Acts (Company No. SC171130) with its registered office at Craigforth, Stirling FK9 4UE, for confirmation of a reduction of its share capital, the Court pronounced the following interlocutor on 15 December 2004: “The Lord Ordinary, having resumed consideration of the Petition and proceedings, (1) approves the Report by Mr Julian Voge, Edinburgh, No 8 of process, and having heard Counsel for the petitioner, (2) directs in terms of section 136(6) of the Companies Acts 1985 that the provisions of sections 136(3) to (5) of that Act shall not apply as regards the Creditors of Scottish Amicable Life plc or any class of them; (3) confirms the reduction of share capital resolved by Special Resolution made on 1 November 2004 and set forth in the Petition; (4) approves the Minute No. 9 of process; (5) directs the Registrar of Companies to register the said Minute and a certified copy of this interlocutor and; (6) on the said certified copy interlocutor and Minute being registered, Appoints the petitioner to advertise that registration once in The Edinburgh Gazette ; and decerns.” The Registrar of Companies certified in the Registration of the said order, minute and undertaking on 17 December 2004, notice of which is hereby advertised.

Maclay Murray & Spens

3 Glenfinlas Street, Edinburgh EH3 6AQ, Solicitor for the Petitioner.

21 December 2004.