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Policyholder Update 6 August 2009

Dear Policyholder,

Value of the inherited estates.

This morning Aviva has published interim financial results for 2009 including a value for the inherited estates as at end June 2009. The total value was £1.2 billion, comprising £500million for CGNU and £700million for CULAC.

The details are contained in a media release which can be found on the Aviva website. The link below will take you directly to the appropriate pdf. The reference is under the section 'Regulatory capital – UK Life with-profits funds' on page 35 of the document.

http://www.aviva.com/library/pdfs/investor/results-and-reports/results/2009/06-08/Aviva_plc_Half_Year_2009_Report.pdf

We will keep you up to date on further estate valuations in due course.

Yours faithfully

Jonathan Haslam