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News release

16 December 2009

Clerical Medical sells Lands Improvement Holdings to MGPA

Clerical Medical is announcing it has sold Lands Improvement Holdings plc (LIH) to an MGPA managed fund for a purchase price of �52.5 million. In addition, Clerical Medical extracted a �34.5 million cash dividend from LIH prior to the sale. The sale follows a strategic review by Clerical Medical of its direct property holdings. MGPA is the successful bidder in an auction process that began in May 2009.

LIH is a strategic land investment company that purchases and promotes large-scale development projects throughout the UK. The company prepares land for sale as fully serviced development parcels to house builders and commercial developers.

MGPA is an independently managed private equity real estate company.

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Please see our legal and privacy statements. Issued by Clerical Medical Investment Group Limited. Registered Office 33 Old Broad Street, London EC2N 1HZ. Registered in England and Wales, Registered No. 3196171. Clerical Medical Investment Group Limited is authorised and regulated by the Financial Services Authority. These pages are intended for UK residents only. During this period of transition Clerical Medical is an introducer of Scottish Widows products. The firms are regulated by the Financial Services Authority. Scottish Widows plc. Registered in Scotland No. 199549. Registered Office in the United Kingdom at 69 Morrison Street, Edinburgh EH3 8YF. Telephone: 0845 767 8910.