Interim Management Statement

ABERDEEN ASSET MANAGEMENT PLC

INTERIM MANAGEMENT STATEMENT - 3 MONTHS TO 31 DECEMBER 2010

Highlights

·; Assets under management increased by 2.6% to £183.3 billion

·; £12.3 billion of new business won in the quarter (quarter to 31 December 2009: £9.7 billion)

·; Net new business for the quarter: -£0.8 billion (December 2009: -£2.6 billion)

·; Revenue effect of net flows adds £15 million of annualised fee income

Martin Gilbert, Chief Executive of Aberdeen, commented:

"It has been a solid quarter for Aberdeen and we are pleased with the progress made. Flows, particularly into our pooled vehicles, continue to boost revenues. Alongside this we have seen a slowing trend in redemptions in our fixed income business with an encouraging uptick in new business in this area. Investment performance remains healthy across each of our primary asset classes. Equities in particular have posted robust returns, while our fixed income teams have strongly outperformed industry benchmarks, further stimulating investor interest.

"The Group is well positioned to build on this momentum, despite volatile market conditions, as we continue to prioritise organic growth."

Assets under management

Assets under management ("AuM") of £183.3 billion at 31 December 2010 were 2.6% higher than at 30 September 2010. The principal changes in AuM during the quarter are shown in the following table.

New business flows

Gross new business wins for the quarter totalled £12.3 billion, compared to £9.7 billion for the same quarter last year, with a further £2.1 billion of new mandates which had been awarded to the Group at 31 December 2010 but not funded at that date.

Inflows to pooled funds, which attract higher revenue margins, continue to grow steadily, with gross inflows of £7.5 billion for the quarter accounting for 61% of total flows (quarter to 31 December 2009: £3.6 billion, 37% of total). Outflows have been mainly from lower margin segregated mandates and the overall effect on revenue is positive, with the net flows for the quarter adding approximately £15 million of annualised fee income.

It is encouraging to note that the pipeline of new business yet to fund includes £0.8 billion of fixed income mandates, including two new mandates for US fixed income.

We stated in the annual report that our fixed income business was likely to experience some further outflows and this has proved to be correct, although the rate of outflows continues to slow. We have also seen £0.9 billion of net property outflows in the quarter, of which £0.7 billion relates to a single low margin segregated mandate.

An analysis of the new business figures for the quarter to 31 December 2010 is provided at the end of this statement.

Investment performance

Investment performance remains good across each of the main asset classes. In equities, Asia-Pacific, global emerging markets and global equities show consistently strong performance both in the long term and the short term, and our wider capabilities in UK, European and US equities show good numbers over periods up to five years.

In fixed income our teams have outperformed strongly against their respective benchmarks over one and two years and continue to narrow the gap against benchmark over three years, and our specialist fixed income capabilities - Asia Pacific, emerging markets and high yield - continue to attract investor interest.

Within alternative investment strategies, our flagship funds of hedge funds continue to produce robust performance and our property portfolios have also performed steadily.

Outlook

Trading conditions are positive and, whilst recognising that economic factors may still cause some volatility in global markets generally, the Group is well positioned to continue the progress achieved in 2010.

For further information please contact:

Aberdeen Asset Management PLC + 44 (0) 20 7463 6000

Martin Gilbert

Bill Rattray

Maitland + 44 (0) 20 7379 5151

Neil Bennett

Rowan Brown

ASSETS UNDER MANAGEMENT AT 31 DECEMBER 2010

OVERALL NEW BUSINESS FLOWS FOR 3 MONTHS TO 31 DECEMBER 2010 - BY MANDATE TYPE

OVERALL NEW BUSINESS FLOWS FOR 3 MONTHS TO 31 DECEMBER 2010 - BY ASSET CLASS

NEW BUSINESS FLOWS FOR 3 MONTHS TO 31 DECEMBER 2010 - EQUITIES

NEW BUSINESS FLOWS FOR 9 MONTHS TO 31 DECEMBER 2010 - FIXED INCOME

NEW BUSINESS FLOWS FOR 9 MONTHS TO 31 DECEMBER 2010 - ALTERNATIVE INVESTMENT STRATEGIES

Note: figures in the above tables may appear not to add due to rounding differences