Governance

Application of the Combined Code for the year ended 31 December 2009

The Board remains committed to high standards of corporate governance in directing the Group’s affairs and in its accountability to shareholders. The Directors believe these are key to managing our business effectively and delivering shareholder value over the longer term.

The Board considers that, throughout 2009, Standard Life plc has complied with all relevant provisions of Section 1 of the Combined Code on Corporate Governance issued by the Financial Reporting Council in June 2008.

Creating capital efficient, innovative products.