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Summary Corporate Responsibility Report

As a listed plc Standard Life remains committed to running the business to high ethical, legal and professional standards.

We view corporate responsibility as an integral part of managing our day to day business – as important as delivering excellent customer service and growing the business profitably.

Overall, we focus on five key areas where our business has had most impact. These are:

• Understanding and engaging on the issues that matter most to our external stakeholders;
  
  
• Creating the environment that allows our people to realise their full potential;
  
  
• Being active and responsible investors;
  
  
• Reducing our environmental impacts and playing an active role in supporting our local communities.

Engaging with our stakeholders

The success of the vote in May 2006 on demutualisation and flotation depended on our members’ support. In the run up to the vote we worked hard to get them involved – and to respond to their concerns and views about the proposed changes.

An important initiative was the Members’ Roadshows, where a team from the Board and areas across the business went out ‘on the road’ to meet with members and talk through their questions.

We also produced regular issues of our newsletter Members’ Update and carried out research to see how well our communications were working.

We developed our communication strategy throughout 2006, launching a new customer magazine called Standard Life in November, then sending out Shareholder News in December, as well as carrying out research with our individual shareholders.

We also continued our programme of research with other key stakeholders, including personal finance journalists, business and finance journalists, industry leaders, MPs and MSPs. Last year we improved the way we communicated with these groups and saw better results across a wide range of issues, including relationship management and image ratings.

Corporate Responsibility Report ... continued.