Communications with investors

Since its shares were listed on the London Stock Exchange, the Company has been working to develop processes to support an effective dialogue with its shareholders based on a mutual understanding of objectives. The Company has a formal Investor Relations department, whose remit is to support communication with institutional investors. The Group has put in place an ongoing programme of domestic and international presentations and meetings between the executive Directors and institutional investors, fund managers and analysts. A wide range of relevant issues is discussed at these presentations and meetings, including business strategy, financial performance, operational activities and corporate governance - but excluding price-sensitive inside information. During 2007, the executive Directors undertook a comprehensive dialogue programme, holding many one-to-one and group investor and analyst meetings. Issues discussed at these meetings have been brought to the attention of the Board. In addition, during the year, an independent, detailed analysis was commissioned by the Company to gather the views of institutional investors on the Company's performance during its initial year as a listed company. The results of this study were carefully considered by the Board. As a result of these procedures, the non-executive Directors believe that they are aware of shareholders' views.

The Board is equally committed to the interests of retail shareholders who make up 95% of the Company's total number of shareholders. During the year, shareholders' views were gathered on the services and means of communication available to them. Shareholder comments have informed the Company's communication methods, in particular with regard to the use of electronic communications and the distribution of the Annual Report and Accounts and AGM pack.

To allow all shareholders full access to the Company's announcements, all material information reported via the London Stock Exchange's regulatory news service is simultaneously published on the Company's website.

The Chairman's statement, Group Chief Executive's statement and Business review contained in this Annual Report and Accounts together aim to provide a balanced overall assessment of the Group's activities, performance and prospects. This information will be supported by a presentation at the 2008 Annual General Meeting - an event that provides a valuable opportunity for the Board and investors to communicate. Shareholders will be invited to ask questions during the meeting and will have an opportunity to meet the Directors after the formal part of the meeting. Details of the voting results from the meeting, including the number of votes withheld, if any, will be published on the Group's website at www.standardlife.com

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