Standard Life Mutual Funds launches Managed Portfolios and Standard Life Global Dividend Growth Fund

MONTREAL, July 8, 2004 – Standard Life Mutual Funds Ltd. expanded its product offering by launching Managed Portfolios and the new Standard Life Global Dividend Growth Fund.

The new prospectus introduces Managed Portfolios, offered exclusively under A-Series, which targets those investors looking to deposit $25,000 or more. The four fund-of-funds optimally match each portfolio with an investor profile: conservative, moderate, growth, and aggressive. Portfolios are rebalanced every quarter to stay on track, offering advisors and investors alike the opportunity for growth and peace of mind.

Offered in the multi-series structure of Standard Life Mutual Funds, the Standard Life Global Dividend Growth Fund is similar to the successful Canadian Dividend Growth Fund. It complements the line of products by offering diversification and the investment know-how on a local and international scale, of the portfolio manager, Standard Life Investments Inc.

Standard Life Mutual Funds Ltd. is a wholly-owned subsidiary of The Standard Life Assurance Company. In Canada, The Standard Life Assurance Company and its affiliated companies have $33.1 billion in assets under management. The Company offers a wide range of financial products, including group savings and retirement, group insurance, individual life insurance, savings and retirement, and mutual funds. We also provide portfolio management and real estate and mortgage investment services. Total premium income and deposits reached $3.9 billion in 2003 with over 1.1 million clients. (

The Standard Life Assurance Company, founded in Edinburgh (Scotland) in 1825, is a mutual company. On 31 March 2004, however, it was announced that the Standard Life Board had concluded that proceeding towards a demutualisation of the Company was in the best interests of the Company and its policyholders. The current timetable envisaged is that a proposal will be put to members by the 2006 Annual General Meeting for implementation as soon as practicable thereafter. The Company has $206.3 billion in assets under management and over 5 million customers around the world. (