Standard Life Launches New Service for Group Retirement Plan Members

MONTREAL, May 4, 2006 – Standard Life today announced the launch of Portfolio Risk Management, the latest innovation to its wide range of on-line tools and services. This exclusive service shows plan members their investment risk and enables them to monitor and maintain their preferred risk/return position.

A comfortable retirement depends on contributions, returns on investment
and time. Good returns are achieved by managing risk, but how can members know where they stand? Portfolio Risk Management measures investment risk. The ‘R-meter’, a key component of the service, shows the aggressive, moderate or conservative risk/return positions for a member’s investments, along with analysis and suggestions for keeping them aligned. It also allows members to anticipate the impact that investment changes might have on their risk/return
positions.

“You wouldn’t drive a car without a speedometer. Think of the R-meter as a speedometer for investments,” said Anthony Cardone, Senior Vice President, Group Savings & Retirement. “Some of us accept greater risk with the expectation of higher returns, while others aren’t as comfortable with market fluctuations and opt for a more moderate approach. Portfolio Risk Management helps maintain mixes that fit members’ personal comfort levels and goals.”

“This new service,” added Mr. Cardone, “puts our sponsors further ahead in meeting their obligations under the Guidelines for Capital Accumulation Plans. Their members will be better informed, and better equipped to take a hands-on approach to their retirement savings.”

About Standard Life

The Standard Life Assurance Company of Canada and its affiliated companies have $40.5 billion in assets under management (at December 31, 2005) and offer a wide range of financial products and services to over 1.28 million individuals, including group insurance and pension plan members. Products and services include group savings and retirement, group insurance, individual life insurance, savings and retirement, mutual funds and portfolio management. Total premium income and deposits reached $5.2 billion in 2005. (www.standardlife.ca)

Founded in Edinburgh (Scotland) in 1825, The Standard Life Assurance
Company is a mutual company. On 17 October 2005, the Board of Standard Life announced that it intends to recommend to members that the Standard Life should demutualize and list on the London Stock Exchange, subject to satisfactory completion of all legal, regulatory and other processes. A Special General Meeting is planned for May or June 2006 to seek members’ approval of the demutualization and flotation plans. The Company has $238.6 billion in assets under management (at December 31, 2005) and over 7 million customers in the United Kingdom, Canada, Ireland, Germany, Austria, India and Hong Kong and mainland China. (www.standardlife.com)