Statement Re. Possible Offer

Standard Life plc 25 October 2007 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION For immediate release 25 October 2007 Standard Life plc ('Standard Life'): Statement Re. Possible Offer For Resolution plc ('Resolution') Further to today's announcement by Resolution, Standard Life confirms that it is in advanced discussions with the Board of Resolution on a possible recommended offer for Resolution on the terms set out below (the 'Proposed Offer'). In association with the Proposed Offer, Standard Life anticipates selling assets, including the Life Division South and Resolution Management Services businesses of Resolution, to the Swiss Reinsurance Company for cash. The terms of the Proposed Offer are 517 pence in cash and 0.715 new Standard Life shares for each Resolution ordinary share. If the Proposed Offer were to proceed, the Board of Standard Life believes it will deliver compelling value to both Standard Life and Resolution shareholders due to the strong commercial logic and significant financial synergies it would bring. A further announcement will be made in due course. Dealing disclosure requirements Under the provisions of Rule 8.3 of the Takeover Code (the 'Code'), if any person is, or becomes, 'interested' (directly or indirectly) in 1% or more of any class of 'relevant securities' of Standard Life or Resolution all 'dealings' in any 'relevant securities' of that company (including by means of an option in respect of, or a derivative referenced to, any such 'relevant securities') must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which any offer becomes, or is declared, unconditional as to acceptances (or, if implemented by a scheme of arrangement, such scheme becomes effective), lapses or is otherwise withdrawn or on which the 'offer period' otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an ' interest' in 'relevant securities' of Standard Life or Resolution, they will be deemed to be a single person for the purpose of Rule 8.3. Under the provisions of Rule 8.1 of the Code, all 'dealings' in 'relevant securities' of Resolution by Standard Life or of Standard Life by Resolution, or by any of their respective 'associates', must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction. A disclosure table, giving details of the companies in whose 'relevant securities' 'dealings' should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk. 'Interests in securities' arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an 'interest' by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities. Terms in quotation marks are defined in the Code, which can also be found on the Takeover Panel's website. If you are in any doubt as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Takeover Panel. This information is provided by RNS The company news service from the London Stock Exchange

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