Aviva BPI Share sale

Aviva PLC
26 June 2007



FINAL

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE IN OR INTO THE UNITED STATES,
AUSTRALIA, CANADA OR JAPAN


News release

26 June 2007

AVIVA BPI SHARE SALE FUNDS JV

Aviva plc ('Aviva') announces that it has sold 10.4 million shares in Banca
Popolare Italiana ('BPI'), raising approximately €116 million (£78 million*).

The sale of BPI shares by Aviva follows the announcement on 21 June that Aviva
will enter into a new bancassurance partnership in Italy with Banco Popolare,
the new banking group to be created by the merger of BPI and Banco Popolare di
Verona e Novara.

Morgan Stanley & Co International plc acted as bookrunner for the sale.



                                - ends -



*  At an exchange rate of 1.484 Euro/GBP


Enquiries:

Media
Sue Winston, head of group media relations              [phone]
James Murgatroyd/Ed Simpkins, Finsbury                  [phone]


Analysts
Charles Barrows, investor relations director            [phone]



Notes to editors:

• On 21 June Aviva announced that it is to form a joint venture with
Banco Popolare in Italy.  Under the terms of the new, long-term arrangement
Aviva will hold 50% of the share capital of Novara Assicura, which will become
Banco Popolare's non-life insurance subsidiary.  In addition, Aviva will
exclusively be able to offer protection and non-life insurance products to more
than five million Banco Popolare customers through the bank's network of
approximately 2,200 branches across northern Italy.

• Aviva is the leading provider of life and pensions to Europe with
substantial positions in other markets around the world, making it the world's
fifth largest insurance group based on gross worldwide premiums at 31 December
2005.


• Aviva's principal business activities are long-term savings, fund
management and general insurance, with worldwide total sales of £41.5 billion
and assets under management of £364 billion at 31 December 2006.


• The Aviva media centre at www.aviva.com/media includes images, company
and product information and a news release archive.

This announcement has been issued by Aviva plc and is the sole responsibility of
Aviva plc.

This press release does not in any manner constitute nor should it be
characterized, considered or regarded as an invitation to the public to invest
or as an invitation for collection of the public's savings nor an advertisement,
notification, statement or announcement soliciting investment in the shares of
BPI.

THIS PRESS RELEASE IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY
ANY OF THE SECURITIES DESCRIBED HEREIN.

This communication is for distribution only to and is directed only at persons
falling within Article 19(5) or Article 49(2)(a) to (d) of The Financial
Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended, as
persons having professional experience in matters relating to investments or
meeting the asset tests set out in Article 49 and to persons to whom it may
otherwise lawfully be passed on (all such persons together being referred to as
'relevant persons').  This document must not be acted on or relied on by persons
who are not relevant persons. Any investment or investment activity to which
this document relates is available only to relevant persons and will be engaged
in only with relevant persons.

Morgan Stanley & Co. International plc is acting for Aviva plc and no-one else
in relation to the sale and will not be responsible to any person other than
Aviva plc for providing the protections afforded to clients of Morgan Stanley &
Co. International plc or for providing advice in relation to the sale or in
relation to the contents of this announcement or any other transaction,
arrangement or matter referred to herein.

This announcement is not for publication, distribution or release in the United
States, Australia, Canada or Japan.  The ordinary shares in BPI referred to in
this announcement have not been, and will not be, registered under the US
Securities Act of 1933 and may not be offered or sold in the United States
absent registration or an exemption from registration.  There will be no public
offering of the

securities referred to in this announcement in the United States.'




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