RS Momentum AllWeather Liquidity Update

Royal Skandia have now received a further partial payment in relation to the DR shares and the Delayed Redemption 2 (DR2) shares and the proceeds due to clients were credited to their policies on 9 February 2011 by way of units in the relative currency Royal Skandia Deposit Fund.

As further monies become available from these share classes, they will write to clients to advise them of the distribution process. Pioneer Alternative Investment Management Limited (the investment manager) will continue to calculate weekly indicative prices for the DR and DR2 shares. These prices will also be available on their website www.royalskandia.com/funds/fundinformation/fundnews.

Client notification letters will be sent shortly, please take the attached sample letter for your reference. Should you have any queries, please feel free to Contact Me.