Standard Life – Ideal Segregated Funds now available on FundSERV

MONTREAL, Jan. 7, 2002 – The Standard Life Assurance Company is
pleased to announce its new “Ideal Series”, making its “Ideal Segregated
Funds” available via FundSERV Inc., the leading network service provider to the
Canadian investment fund industry.

“In line with our philosophy of being easy to deal
with, having our “Ideal Segregated Funds” on FundSERV is a plus for those who
prefer to do business electronically” says Mark McCloskey, Vice-President Sales –
Individual Markets, Standard Life. Anthony Cardone, Vice-President Marketing – Individual
Savings & Retirement, adds “We’re excited at the prospect of offering our highly
acclaimed family of segregated funds through FundSERV, thereby providing our distributors
the increased convenience of booking and administering our funds electronically.”

The “Ideal Series” now consists of 15 existing
funds designed to offer the performance potential of traditional mutual funds with the
security of built-in capital guarantees provided by a Triple A life insurance company.
Encompassing fixed income, balanced and equity funds whose objectives range from low risk,
to long-term capital growth, the family offers options to suit many investment needs and
boasts a proven track record since the launch of its first funds in 1986.

“Ideal Segregated Funds” are managed by
“Standard Life Investments Inc.” With over $18 billion in assets under
management, “Standard Life Investments Inc.” continues to apply its unique,
disciplined, team approach to investing to deliver consistently superior returns over the long term.

In Canada, Standard Life has over $28 billion in assets
under management and offers a wide range of financial products and services to more than 1
million clients. Its 2,200 employees are committed to providing superior customer service
from its headquarters in Montreal, its Calgary and Toronto regional offices, as well as
from its 20 sales offices across the country. Standard Life’s products and services
include group savings and pension, group life and health, individual life insurance,
savings and retirement. Through affiliated companies, it also offers mutual funds and
portfolio management services. Total premium income and deposits reached $3.7 billion in 2001.

Standard Life is part of the Standard Life Group founded in
Edinburgh (Scotland) in 1825. The Group has over 12,000 employees, $182 billion in assets
under management and over 5 million customers in, among others, the United Kingdom,
Canada, Ireland, Germany, Austria, Spain, India and Hong Kong. The Group has also established two
representative offices in China. Total premium income reached close to $19 billion in 2001.