News Release

29 January 2008

Friends Provident plc appoints Group CEO

Friends Provident plc announces the appointment of Trevor Matthews as Group CEO. Formerly the Chief Executive of Standard Life Assurance, the principal subsidiary of Standard Life plc., Trevor has a strong track record and extensive experience across a range of countries, bringing with him broad international experience and credibility. He has been a significant contributor to product innovation and the development of distribution that has been key to the success of Standard Life in the UK.

Before joining Standard Life in 2004, Trevor Matthews held two key positions at Manulife Financial Corporation - Executive Vice President in Canada and subsequently President and Chief Executive, Japan. Prior to that he held senior positions in both National Australia Bank and Legal & General Australia.

Sir Adrian Montague, the Chairman of Friends Provident, commenting on the appointment said:

“I am delighted Trevor Matthews has chosen to join Friends Provident at this critical time in the company's history. Trevor has an outstanding track record of success in the life sector. He has a deep understanding of the industry built on his extensive international experience and more recent work in the UK and with the right skills, enthusiasm and drive to lead this company forward. Trevor has the determination to make sure Friends Provident vigorously pursues the profitable opportunities to build shareholder confidence and value.”

“This is an outstanding opportunity for me, and I look forward to it immensely. Friends Provident has an enviable reputation for serving its customers well and providing intermediaries with innovative products and systems. Whilst the current environment is challenging, I plan to put past uncertainties behind and, with the team, profitably grow and develop the business. There are many opportunities and Friends Provident is very well placed to capitalise on these.”

The appointment of Trevor Matthews is subject to the usual regulatory approval.

- Ends -

Notes to Editors

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 Friends Provident, 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 3.30pm (London time) on the London business day following the date of the relevant transaction.

This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, 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 Friends Provident, 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 Friends Provident by an offer or Friends Provident, 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 Panel's website. If you are in any doubts as to whether or not you are required to disclose a 'dealing' under Rule 8, you should consult the Panel.

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