Discussions about sale of AmLife stake.

Announcement by Resolution Limited

Discussions about sale of AmLife stake

Resolution Limited (the "Company") confirms that its operating business Friends Life is in discussions on the possible sale of its 30 per cent stake in AmLife Insurance Berhad and AmFamily Takaful Berhad back to its joint venture partner, AmBank Group of Malaysia. The Company will update the market in due course.

For further information, please contact:

Investors/analysts

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

Media

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

Note to editors

Friends Provident and AmBank entered into a joint venture in relation to AmLife in 2008. AmLife is one of Malaysia's top ten life insurers and Friends Life's 30 per cent interest in AmLife had an MCEV of £38 million as at 30 June 2012.

A copy of this announcement 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.