Pension 2 Investment Funds

The Pension 2 investment funds are available to investors in the following products:

• Group Pensions for Larger Employers
• Corporate Group Plan
• Corporate Group Additional Voluntary Contributions Plan
• Corporate Retirement Account Plan
• Corporate Executive Pension Plan

The default list of funds shown are managed by Standard Life Investments. To view another manager's funds please choose from the drop-down menu.

To view fund information in the form of a fact sheet simply click on the name of the fund shown. Please note that these fact sheets are provided in PDF format. Should you wish to view the fact sheets, you must have Adobe Acrobat Reader.

This is free to download at Adobe.

The fund descriptions are intended for individuals who are familiar with investment terminology. Please contact your financial adviser if you need an explanation of the terms used.

You can also view the Lifestyle Profiles available (PDF)

Values shown are displayed in pence.

Fund	Graph	Price	Daily Change			Change Date
SLI Global Absolute Return Strategies Fund		91.7		-0.90	-0.97%	06/10/2008
Pension 2 Managed Fund		118.0		-2.40	-1.99%	06/10/2008
Standard Life Investments Select Property Fund		75.5		-2.10	-2.71%	06/10/2008
Pension 2 Stock Exchange Fund		117.4		-2.30	-1.92%	06/10/2008
Pension 2 Overseas Fund		103.8		-3.80	-3.53%	06/10/2008
Pension 2 Cautious Managed Fund		123.1		-0.80	-0.65%	06/10/2008
Pension 2 UK Equity Fund		108.9		-2.60	-2.33%	06/10/2008
Pension 2 European Fund		131.5		-2.90	-2.16%	06/10/2008
Pension 2 North American Fund		75.5		-3.60	-4.55%	06/10/2008
Pension 2 Japanese Fund		62.5		-1.60	-2.50%	06/10/2008
Pension 2 Pacific Basin Fund		136.6		-9.30	-6.37%	07/10/2008
Pension 2 Fixed Interest Fund		148.4		1.30	0.88%	06/10/2008
Pension 2 UK Fixed Interest Fund		146.4		1.20	0.83%	06/10/2008
Pension 2 Overseas Fixed Interest Fund		161.2		1.30	0.81%	06/10/2008
Pension 2 Index-Linked Fund		168.7		2.70	1.63%	06/10/2008
Pension 2 Property Fund#		186.9		0.00	0.00%	06/10/2008
Pension 2 Sterling Fund		141.1		0.00	0.00%	06/10/2008
Pension 2 Ethical Fund		128.3		-2.90	-2.21%	06/10/2008
Pension 2 Protection Fund		145.4		2.20	1.54%	06/10/2008
Pension 2 FTSE* Tracker Fund		103.2		-2.70	-2.55%	06/10/2008
Pension 2 US Equity Tracker Fund		92.1		-3.20	-3.36%	06/10/2008
Pension 2 European Equity Tracker Fund		135.3		-3.20	-2.31%	06/10/2008
Pension 2 Global Equity 50:50 Tracker Fund		119.4		-3.30	-2.69%	06/10/2008
Pension Cautious Manager of Managers Fund		112.6		-1.00	-0.88%	06/10/2008
Pension Balanced Manager of Managers Fund		116.8		-2.20	-1.85%	06/10/2008
Pension Global Equity Manager of Managers Fund		114.8		-3.60	-3.04%	06/10/2008
Pension UK Equity Manager of Managers Fund		118.5		-2.90	-2.39%	06/10/2008
Pension Overseas Manager of Managers Fund		109.6		-4.30	-3.78%	06/10/2008
Pension 2 UK Opportunities Fund		139.0		0.60	0.43%	06/10/2008
Pension 2 Corporate Bond Fund		128.0		0.70	0.55%	06/10/2008
Pension 2 UK Equity Select Fund		165.5		-4.20	-2.48%	06/10/2008
Pension 2 Global Equity 50:50 Fund		138.3		-4.10	-2.88%	06/10/2008
Pension 2 Overseas Tracker Fund		118.1		-3.50	-2.88%	06/10/2008
Pension 2 Managed Cash Fund		100.4		0.00	0.00%	06/10/2008
Standard Life Investments UK Smaller Companies Fund		181.6		0.50	0.28%	06/10/2008
Standard Life Investments Global Equity Unconstrained Fund		88.8		-2.20	-2.42%	06/10/2008
Standard Life Investments Higher Income Fund		88.8		-0.70	-0.78%	06/10/2008
Standard Life Investments UK Equity High Income Fund		78.5		-0.80	-1.01%	06/10/2008
Pension 2 Long Corporate Bond		93.8		1.20	1.30%	06/10/2008
Pension 2 Individual Property Fund ##		76.5		0.00	0.00%	06/10/2008
Standard Life Investments Global Reit Fund		55.9		-2.10	-3.62%	06/10/2008
Standard Life Investments Dynamic Distribution Fund		92.3		-0.40	-0.43%	06/10/2008

# The Pension 2 Property Fund is not available under the Corporate EPP contract

## The Pension 2 Individual Property Fund is not available under the following contracts: GRFP, GPPFlex, GPPOne, GPPP, CIMP, GAVC and RAP

+ In certain circumstances, a performance fee may also be applied. For more details on this fee, visit www.blackrock.co.uk

++ The Old Mutual UK Select Smaller Companies Fund closed to new business on 15 December 2006.

**Please note that in certain circumstances a performance fee will apply to the JO Hambro UK Equity Income Fund.
For further information on this and how it is calculated, please ask for a copy of our leaflet 'JO Hambro - Performance Fee' (GEN445).

*FTSE

*FTSE International Limited ("FTSE") does not sponsor, endorse, or promote this fund. All copyright in the index values and constituent list vests in FTSE. Standard Life Assurance Limited has obtained licence from FTSE to use such copyright in the creation of this fund. "FTSE®" is a trade mark jointly owned by the London Stock Exchange Plc and The Financial Times Limited and is used by FTSE under licence.

About These Prices

The price shown is the price at which units in each of the Investment Funds are both bought and sold on 07/10/2008. These prices are for information purposes only. For more information on the actual unit prices that will be used when a transaction is carried out please contact us.

Your Investment

The value of your investment can go down as well as up. The sterling value of overseas assets in these funds may also rise and fall as a result of exchange rate fluctuations. In exceptional circumstances, a request to change funds or transfer benefits may be deferred for up to one month for investments in the investment-linked funds or six months for the Property Fund.