Pre-close Trading Update

ABERDEEN ASSET MANAGEMENT PLC

PRE-CLOSE TRADING UPDATE

In advance of entering a close period ahead of the announcement of interim results for the six months to 31 March 2012, Aberdeen provides the following trading update.

·; AuM at 29 February 2012: £184.4 billion (31 December 2011: £173.9 billion)

·; Net new business inflows of £1.4 billion in the two month period under review

·; Continued net inflows to higher margin products to add £20 million in annual revenues

Assets under management ("AuM") at 29 February 2012 totalled £184.4 billion, a 6% increase on 31 December 2011, as summarised in the following table.

Gross new business flows for the two months to 29 February 2012 totalled £6.5 billion, bringing the total for the five months year to date to £14.4 billion (five months to 28 February 2011: £19.1 billion). Net inflows of £1.4 billion were achieved in the two months to 29 February 2012, resulting in net outflows of £1.4 billion for the five month period (five months to 28 February 2011: net outflow £0.6 billion).

The momentum of new business flows remains biased to higher margin pooled funds with outflows limited to lower margin strategies. Fixed income outflows have slowed significantly from previous quarters and we continue to see encouraging interest for both emerging market debt and our Asian local currency short duration product.

Inflows to our global emerging market equity funds have remained extremely strong as investor confidence and risk appetite have recovered. As previously highlighted, we are not prepared to compromise the quality of our portfolios and we are actively seeking to curtail the rate of inflows to more sustainable levels. Flows into global and Asia Pacific equities also remain healthy.

Our property business continues to progress well, and we have recently been appointed to two new mandates, which are expected to fund during the second half of our financial year.

Investment performance remains strong across all our core strategies with healthy long term performance across fixed income and our flagship funds of hedge funds product.

The ongoing trend of new business flows into higher margin products continues to support the growth in revenues; we estimate that the net flows for the two month period to 29 February 2012 will add approximately £20 million of annualised recurring fee income. 

Since the start of the calendar year, global markets have extended their gains and have taken on a more settled tone. Whilst we retain a degree of caution in our outlook for stock markets, we believe we remain well placed to continue our progress.

Martin Gilbert, Chief Executive of Aberdeen, commented:

"These figures reflect the continuing theme of flows into higher margin products across the business. Performance remains strong and our disciplined investment approach means we are well placed to continue to deliver for our investors."

The announcement of the company's interim results for the six months to 31 March 2012 will be made on 30 April 2012

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

ASSETS UNDER MANAGEMENT AT 29 FEBRUARY 2012

OVERALL NEW BUSINESS FLOWS FOR 5 MONTHS TO 29 FEBRUARY 2012 - BY MANDATE TYPE

OVERALL NEW BUSINESS FLOWS FOR 5 MONTHS TO 29 FEBRUARY 2012 - BY ASSET CLASS

NEW BUSINESS FLOWS FOR 5 MONTHS TO 29 FEBRUARY 2012 - EQUITIES

NEW BUSINESS FLOWS FOR 5 MONTHS TO 29 FEBRUARY 2012 - FIXED INCOME

NEW BUSINESS FLOWS FOR 5 MONTHS TO 29 FEBRUARY 2012 - ABERDEEN SOLUTIONS