Standard Life offers early incentive to investors opening tax-free savings accounts

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MONTREAL, Nov. 20 2008 – The Standard Life Assurance Company of Canada’s retail division announced today an incentive offer for individual investors. Those planning to open a tax-free savings account (TFSA) in 2009 can get a head start maximizing their savings, starting today. Standard Life is offering investors a preferred interest rate, a plan for their 2009 and 2010 contributions, a choice in how they invest their savings and no fees if they select their investment within six months.

Investors may deposit up to $10,000 in a Standard Life 18-month non-registered redeemable Ideal Term Fund at a preferred interest rate. When TFSAs come into effect in January 2009, they have the choice to transfer the maximum $5,000 TFSA contribution from the term fund into either an Ideal Term Fund TFSA, an Ideal Segregated Fund TFSA or a Standard Life Mutual Fund TFSA. As long as transfers are made within six months of the initial deposit, there will be no fee implications or adjustments for the transfer. Any balance in the non-registered term fund will collect interest at the preferred interest rate for the rest of the 18-month term, helping to build a TFSA contribution for 2010.

“By offering a preferred rate on deposits up to $10,000, we are hoping to simplify the process of setting up the account and planning contributions for 2009 and 2010,” said Michel Fortin, Vice-President, Marketing, Retail Markets with Standard Life. “TFSAs represent an important personal savings vehicle that will gather value year over year as funds accumulate and the annual maximum increases.”

Michel Fortin also pointed out: “Investors are given a choice of investment vehicles, including those that may have a good upside as a result of current market conditions. Products such as Ideal Term Funds and Ideal Segregated Funds offer clients more protection in turbulent markets. We think giving clients this choice makes our TFSA offer a compelling proposition, and we always suggest that individuals talk these choices over with a financial advisor.”

About Standard Life

In 2008, Standard Life, the first life insurance company to transact business in Canada, marks its 175th year of operations. With 10,000 employees globally, Standard Life plc is a major international financial services group headquartered in Scotland. It provides asset-managing services for retirement, investment and protection to some 7 million customers globally and has C$330 billion in assets under administration, as at June 30, 2008. It has offices in the United Kingdom, Canada, Ireland, Germany, Austria, India and China, including Hong Kong.

The Standard Life Assurance Company of Canada is Standard Life plc’s largest operation outside the U.K., with 2,000 employees based in Montreal and across Canada, serving more than 1.3 million Canadians, including group insurance and pension plan participants. (

Standard Life plc has approximately 1.5 million shareholders worldwide, including approximately 14,000 institutional and individual shareholders in Canada. It has been trading on the London Stock Exchange since The Standard Life Assurance Company demutualized in 2006. Standard Life plc is listed on the FTSE 100, Europe’s largest index, and on the FTSE4Good Index, which identifies companies adhering to globally recognized corporate responsibility standards. (

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