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Standard Life plc - Annual Report and Accounts 2007
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New business sales and profitability

New business highlights 2007 2006 Movement
New business PVNBP1,2,3 £16,423m £14,599m 13%
New business APE2,3 £1,994m £1,768m 13%
Investment - third party net new business £7.9bn £6.4bn 23%
New business contribution4 £345m £205m 68%
PVNBP margin4,5 2.1% 1.4% 0.7% points

1 The PVNBP new business sales are different from those previously published in the full year new business press release issued on 30 January 2008 as they incorporate year end non-economic assumption changes.
2 The 2007 figures include mutual funds sales. The 2006 figures have been restated to reflect the inclusion of mutual funds. The 2007 impact is: PVNBP of £848m (APE of £92m). The 2006 impact is: PVNBP of £336m (APE of £34m).
3 The percentage change figures include percentage change figures for India which are computed based on the percentage movement in the new business of HDFC Standard Life Insurance Company Limited as a whole to avoid distortion due to changes in the Group's shareholding in the joint venture during 2006 and 2007.
4 2006 results are shown on a pro forma basis.
5 PVNBP margins are NBC divided by PVNBP expressed as a percentage based on the underlying unrounded numbers.

Please refer to the basis of preparation section in the business review and the glossary.