P27 - Glanmore Property Fund changes

01 July 2009

We have been informed by Tilney Investment Management, managers of the Glanmore Property Fund, that the special resolution proposed at the Extraordinary General Meeting held on 23 June 2009 was passed, enabling the creation of a new share class of the fund and changes to existing investments.

Tilney will be publishing further information to shareholders shortly, detailing the changes, and we will write to policyholders in the mirror fund as soon as we have that information. Please note that we are not in a position to allow an open share offering on a mirror fund, due to the pooled nature of our investment products together with the three year liquidity restrictions imposed on the new shares.

If you have any questions regarding the operation of the mirror fund or the underlying fund, please contact our Funds Marketing & Research department.