Re Joint Venture

Aviva PLC
01 October 2002

                                                                  1 October 2002


Aviva extends distribution in France through bancassurance partnership

Aviva plc ('Aviva') announces that its French subsidiary, CGU France, has
reached an agreement in principle to enter a bancassurance partnership with
Credit du Nord, a French banking group and subsidiary of Societe Generale, in
co-operation with Cardif, a French life insurance company. This agreement is
subject to contract.

This agreement will add bancassurance distribution in France, through over 600
branches and to 1.3 million customers, to the existing multi-distribution
capability of CGU France.

The following announcement has been issued in France today:

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         Aviva to take a shareholding, from late 2004, in Antarius, the
                  life insurance subsidiary of Credit du Nord

Credit du Nord, a member of the Societe Generale group, and Cardif, a subsidiary
of BNP Paribas, have been in a life insurance partnership since 1977. Initially,
between 1977 and 1996, the partnership was based on the sale of Cardif's life
insurance products via Credit du Nord's banking network, and then from 1996,
through a 50:50 owned life insurance company, Antarius.

From mid 2002, under the terms of the Antarius agreement, Credit du Nord has the
option to change its partner. Credit du Nord has chosen to partner CGU France, a
subsidiary of Aviva, taking account of the relationship developed in the
non-life sector between Societe Generale and the leading insurance group in the
UK.

On 30 September 2002, the Credit du Nord group, CGU France, and Cardif, signed a
three-way co-operation agreement.

The agreement provides, subject to contract and to the approval of the
appropriate authorities, for the acquisition by CGU France in late 2004 of the
50% shareholding currently held by Cardif in Antarius, the life insurance
subsidiary of Credit du Nord, created in 1996. In 2001 Antarius had premium
income of € 547million and policyholder funds under management at the end of
2001 were € 2.5 billion. From late 2004, CGU France will manage and administer
the portfolio of Antarius and the new business.

Cardif will continue to maintain its role as insurer of the portfolio of life
insurance contracts written with Credit du Nord's clients between 1977 and 1996.
Policyholder funds under management related to these contracts, at the end of
2001, were € 3.3 billion.

CGU France and Cardif will take all the necessary steps to ensure the continuity
of quality of service to Credit du Nord's customers.


CGU France has also recently signed an agreement to provide car and household
insurance through Credit du Nord's branches and associated banks.

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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


On 1 July 2002, CGNU plc changed its name to Aviva plc. Aviva's French
businesses will change their name to Aviva around the end of 2002.


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 retail investment sales
from ongoing business of more than £28 billion, and over £200 billion of assets
under management at 31 December 2001.


CGU France currently operates in the life market in France through Abeille vie,
which had €3.2 billion of new business in 2001, and in general insurance through
Abeille assurances and Eurofil. These businesses are complemented by Victoire
Asset Management, our award winning investment management company in France.



Credit du Nord


The Credit du Nord group is a federation of 8 regional French banks. It operates
through 614 branches and services 1.3 million customers.

Cardif


Cardif is an international life insurer, based in France, and a subsidiary of
BNP Paribas.

Specialist in cross-border partnerships, it sells savings, pensions and
protection products in 27 countries, notably via the bancassurance channel.
Cardif has over 150 corporate and institutional partners worldwide.


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