Management Changes at Friends Life Group plc

RESOLUTION LIMITED

(the "Company")

Management Changes at Friends Life Group plc

The Company announces that Evelyn Bourke has resigned from Friends Life where she is CEO of the Heritage business. She will continue to lead this business until she leaves the group in the autumn. Her successor will be announced in due course.

Andy Briggs CEO of Friends Life commented: "We are grateful for the contribution Evelyn has made to Friends Life and wish her well in her new role."

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 Heritage business comprises the UK life back book, Friends Life Investments, the UK pension fund and the listed debt of Friends Life Group plc.

Resolution's current restructuring project is in the UK life and related asset management sectors (the "UK Life Project").

The Company's ordinary shares were admitted to the Official List and to trading on the main market of the London Stock Exchange in December 2008. The Company transferred to a Premium Listing as it completed its first acquisition, Friends Provident Group plc, on 4 November 2009 and is subject to those provisions of the Listing Rules that apply to overseas companies with a Premium Listing. The Company completed its second acquisition, the majority of the AXA UK life business, on 15 September 2010. On 31 January 2011, the Company completed its third acquisition, the shares and business of Bupa Health Assurance Limited.

A copy of this announcement is and will be available, subject to certain restrictions relating to persons resident in restricted jurisdictions, on the Company's website www.resolution.gg