Scrip Dividend Scheme

RNS Number : 2710Q

Standard Life plc

07 April 2009

Standard Life plc

Proposed Introduction of Scrip Dividend Scheme

The Board of Standard Life plc ('the Company') confirms that a resolution will be put to shareholders at the 2009 Annual General Meeting ('AGM') to propose the introduction of a Scrip dividend scheme. The proposed Scrip dividend scheme is intended to replace the current dividend reinvestment plan ('DRIP'). It will give shareholders the option to receive new fully paid ordinary shares in the Company in place of their cash dividend payments.

A further resolution will be proposed to make amendments to the Company's articles of association to allow shareholders who already participate in DRIP as at the closing date for elections to participate in the Scrip dividend scheme to be treated as having elected to participate in the Scrip dividend scheme, without having to sign a Scrip dividend form. These shareholders will be given the opportunity to opt out of this default arrangement and not participate in the Scrip dividend scheme, or to withdraw from it.

Subject to shareholder approval of these resolutions at the 2009 AGM, the Scrip reference price for the fully paid ordinary shares to be issued to shareholders who elect to receive the Scrip dividend alternative for the proposed final dividend for the year ended 31 December 2008, payable on 29 May 2009, will be 179.74 pence per share.

The Scrip reference price is calculated by taking the average mid-market price of the Company's shares over the five business days commencing on the ex-dividend date. In respect of the final dividend for 2008, this was the period 18 to 24 March 2009.

Scrip dividend timetable for 2008 final dividend

Ex-dividend date	18 March 2009
Scrip reference price calculation period	18 - 24 March 2009
Record date	20 March 2009
Last date for receipt of Scrip elections	13 May 2009
Dividend payment/ Scrip issue date	29 May 2009

Further details of the proposed Scrip dividend scheme will be sent to shareholders along with their AGM documents on 14 April 2009 and will be available on our website www.standardlife.com from that date.

Subject to shareholder approval of the proposed Scrip dividend scheme at the 2009 AGM, if all eligible shareholders elect to receive a Scrip dividend alternative in respect of the 2008 final dividend, the maximum number of shares required to be issued by the Company for Scrip dividend purposes would be 93,423,285, representing approximately 4.28% of the Company's issued share capital on the record date. Based on the actual level of participation in DRIP on the record date, the maximum number of shares which would require to be issued by the Company for Scrip dividend purposes (assuming the same level of participation in the Scrip dividend scheme) would be 21,355,515, representing approximately 0.98% of the Company's issued share capital on the record date.