Governance

Application of the Combined Code for the year ended 31 December 2008

The Group’s corporate governance framework supports Standard Life plc’s application of all the main principles of good governance set out in the Combined Code to its organisational structure, its processes to appoint and remunerate Directors, its contact with shareholders and its financial reporting, internal control and assurance procedures.

The Board considers that, throughout the year to 31 December 2008, Standard Life plc has complied with all the relevant provisions of Section 1 of the Combined Code on Corporate Governance issued by the Financial Reporting Council in June 2006.

Creating capital efficient, innovative products.