Director/PDMR Shareholding

1.

Name of the issuer

Friends Life Group Limited

2.

State whether the notification relates to (i) a

transaction notified in accordance with DTR 3.1.2 R,

(ii) a disclosure made in accordance

LR 9.8.6R(1) or

(iii) a disclosure made in accordance with section 793 of the Companies Act (2006).

Notification relates to (i) above

3.

Name of person discharging managerial

responsibilities/director

Andy Briggs, Group Chief Executive

4.

State whether notification relates to a person

connected with a person discharging managerial responsibilities/director named in 3 and identify the connected person

Notification relates to Mrs Suzanne Briggs (connected person in relation to Director named in 3)

5.

Indicate whether the notification is in respect of a holding of the person referred to in 3 or 4 above or in respect of a nonbeneficial

interest

Notification relates to the connected person named in 4

6.

Description of shares (including class), debentures or derivatives or financial instruments relating to shares

Ordinary Shares

7.

Name of registered shareholders(s) and, if more than one, the number of shares held by each of them

Mrs Suzanne Briggs

8.

State the nature of the transaction

Transfer of 353,009 shares from Mrs Suzanne Briggs to Numis Nominees (Client) Limited. Mrs Briggs retains the beneficial interest in these shares.

9.

Number of shares, debentures or financial

instruments relating to shares acquired

N/A

10.

Percentage of issued class acquired (treasury shares of that class should not be taken into account when calculating percentage)

N/A

11.

Number of shares, debentures or financial

instruments relating to shares disposed

N/A

12.

Percentage of issued class disposed (treasury shares of that class should not be taken into account when calculating percentage)

N/A

13.

Price per share or value of transaction

Nil

14.

Date and place of transaction

02 April 2015, London

15.

Total holding following notification and total percentage holding following notification (any treasury shares should not be taken into account when calculating percentage)

424,395 shares / 0.0301%

16.

Date issuer informed of transaction

07 April 2015

17.

Date of grant

N/A

18.

Period during which or date on which exercisable

N/A

19.

Total amount paid (if any) for grant of the option

N/A

20.

Description of shares or debentures involved (class and number)

N/A

21.

Exercise price (if fixed at time of grant) or

indication that price is to be fixed at the time of exercise

N/A

22.

Total number of shares or debentures over which options held following notification

N/A

23.

Any additional information

Following the transfer, Mr Briggs retains an interest in the 353,009 shares to which this notification relates.

24.

Name of contact and telephone number for queries

Victoria Hames

Company Secretary

Tel: 0845 641 7825

Overseas: +44 (0)1306 871844

Name of authorised official of issuer responsible for making notification

Victoria Hames, Company Secretary

Date of notification

07 April 2015

(1)

An issuer making a notification in respect of a transaction relating to the shares or debentures of the issuer should complete boxes 1 to 16, 23 and 24.

(2)

An issuer making a notification in respect of a derivative relating the shares of the issuer should complete boxes 1 to 4, 6, 8, 13, 14, 16, 23 and 24.

(3)

An issuer making a notification in respect of options granted to a director/person discharging managerial responsibilities should complete boxes 1 to 3 and 17 to 24.

(4)

An issuer making a notification in respect of a financial instrument relating to the shares of the issuer (other than a debenture) should complete boxes 1 to 4, 6, 8, 9, 11, 13, 14, 16, 23 and 24.