Aviva to Exit Pakistan

Aviva PLC
16 September 2002



Aviva to exit Pakistan

Aviva plc ('Aviva') has agreed the sale of both its general insurance 
business in Pakistan and its 63.4% stake in Commercial Union Life Assurance 
Company (Pakistan) Limited ('CULAP'). Switzerland-based Aga Khan Fund 
for Economic Development SA ('AKFED') and its affiliate, New Jubilee 
Insurance Company Limited ('NJI'), will purchase the stake in CULAP while 
NJI will purchase the general insurance business.

The exit is in line with Aviva's strategy of withdrawing from markets where 
it does not have sufficient scale to generate satisfactory returns for Aviva 
shareholders.

The combined net assets of these businesses were £2.6 million at 
31 December 2001.

The sale is subject to regulatory approval and is expected to complete in 
the fourth quarter of 2002.

Enquiries:

Analysts/investors
James Matthews, Head of Investor Relations        [phone]

Media
Ian Frater, Head of Group Media Relations         [phone]
Alex Child-Villiers, Financial Dynamics           [phone]


Notes to editors:

*  Aviva is the largest provider of life and pensions to Europe, the  
UK's largest insurance group and has substantial positions in other  
markets around the world.  Aviva is the world's seventh-largest insurer
based on worldwide gross written premiums.

*  Aviva's principal business activities are long-term savings, fund  
management and general insurance, with worldwide premium income and  
investment sales from ongoing business of more than £28 billion, and 
over £200 billion in assets under management at 31 December 2001.

*  Aviva's news releases are available on the internet at www.aviva.com

*  A selection of images are available from the Aviva Newscast site at 
www.Newscast.co.uk





                      This information is provided by RNS
            The company news service from the London Stock Exchange