Standard Life wins the Qu�bec Finance Grand Prix award in the Life Insurance category

MONTREAL, Jan. 25 – The third Financial Industry Gala
event, held yesterday in Montr�al, presented one of the most important tributes to
excellence in the industry, the Qu�bec Finance Grand Prix awards, to various financial
sectors. Standard Life was honoured with the Life Insurance award.

Alain Brunet, Senior Vice-President, Marketing at Standard
Life accepted this prestigious award on behalf of the Standard Life team. “We are
extremely proud to have received the Qu�bec Finance Grand Prix award. This would not be
possible without the constant efforts of all our employees and management, as well as our
general agents and brokers, and of course, our clients.” Mr. Brunet added that
“Total Customer Satisfaction is a management philosophy that is embedded in every
aspect of our business and in our commitment to product innovation. For example, we
recently launched our Critical Illness Insurance. In addition, we are continuously
enhancing our existing products, such as adding new tax exempt funds or offering the Life
profiles preferred rate program to our universal life insurance product Perspecta. Our
products combined with the continuous improvements in services and communications, like
ClientINFO, our Web site for producers, help us meet the evolving needs of our clients all
the while setting us apart.”

The Financial Industry Gala is a unique concept in Canada
as the event brings together all sectors of the financial industry, over 500 leaders,
under one roof. These awards of excellence aim to publicly recognise the dynamism of
industry professionals, their innovativeness and the key role financial institutions play in the economy.

Standard Life Mutual Funds won the Investment Funds award in 2000 and 2001.

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 Montr�al, 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 retirement, 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, approximately $189
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. (