Directorate Change

Announcement by Resolution Limited

Management Changes at Friends Provident Holdings (UK) plc

Resolution Limited (the Company) announces that Andy Briggs will take up the role of Chief Executive Officer (CEO) of Friends Life on 1 June 2011. He will be formally appointed to the Board of Friends Provident Holdings (UK) plc on 1 June. Trevor Matthews, the current Chief Executive Officer, will assume the role of Vice Chairman with effect from the same date.

Sir Malcolm Williamson, chairman of Friends Provident Holdings (UK) plc said:

"I am delighted to welcome Andy to Friends Life and am confident he will do a tremendous job in taking the business through to the successful completion of Resolution's UK life project and beyond. I look forward to working with Andy in his new role as CEO. "

Andy Briggs, CEO of Friends Life, commented:

"The Friends Life business has a real opportunity to be a catalyst for change in the UK life sector and I am excited about joining at this time and leading the executive team. Our task is to continually improve our offer to customers and motivate our people, thereby driving value for our investors and creating a sustainable long-term business with an exciting future. I am looking forward to working with the enthusiastic and talented team at Friends Life to make this happen."

For further information, please contact:

Enquiries:

Investors/analysts

Neil Wesley, Resolution Operations LLP +44 (0)20 3372 2928

Media

Alex Child-Villiers, Temple Bar Advisory +44 (0) 7795 425580

Notes to editors

The Company announced on 25 January 2011 that Andy Briggs would join Friends Life as CEO. Andy joins from Lloyds Banking Group, where he started with Scottish Widows in 2007. Previously he worked at Prudential for 19 years.

A copy of this announcement and the Company's previous announcement of 25 January 2011 is and will be available, subject to certain restrictions relating to persons resident in restricted jurisdictions, for inspection on the Company's website at www.resolution.gg. For the avoidance of doubt any other information contained on Resolution's website does not form part of this announcement.