Dividend Declaration

Final dividend for the year ended 31 December 2015

Further to the announcement on 29 February 2016 of its final results for the year ended 31 December 2015, the Company confirms that, subject to its approval by shareholders at the forthcoming Annual General Meeting, the final dividend of 26.25p per share will be paid on 1 July 2016 to those members on the Company's register at the close of business on 20 May 2016. The ex-dividend date will be 19 May 2016.

The Company also operates a dividend reinvestment plan ('DRP'). The latest date for receipt of DRP elections is 4.00 pm (UK time) on 10 June 2016.