Trading Statement

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 2010, Aberdeen provides the following trading update.

Assets under management at 28 February 2010 totalled £161.4 billion, a 10.4% increase on the total at the end of the last financial year. The principal movements are as follows:

The acquisition of certain businesses from RBS Asset Management is included within corporate transactions above, as is the disposal of certain contracts to Premier Asset Management. Following the RBS transaction, which introduced further diversification to our range of investment capabilities, we have created a new asset category called "alternative investment strategies" which now incorporates AuM previously reported as multi-asset, long-only multi manager and funds of alternatives; we have also included within this caption certain low margin passive mandates previously reported within equities. A fuller analysis of AuM by asset class is provided at the end of this statement.

Investment performance has continued to be strong and this is reflected in healthy new business flows into equities and property; we have seen some further redemptions from fixed income but it is encouraging to report that we are also winning new mandates in this area.

Gross new business flows for the five months to 28 February 2010 totalled £16.1 billion, compared to the £19.1 billion won during the whole of the last financial year. Outflows for the same period were £19.7 billion, resulting in net outflows for the five months of £3.6 billion. However, the revenue margins earned on the inflows being higher than on the outflows, the overall effect of these flows is to increase fee income by around £18 million per annum.

In addition to these flows, the pipeline of mandates awarded but not funded at 28 February 2010 totalled £6.4 billion, of which £3.2 billion will come into our mainstream equity, fixed income and property products and a further £3.2 billion will be invested in the passive element of alternative investment strategies.

The benefits of these flows, together with positive market movements and performance, are reflected in healthy profits, with the Group's operating margin comfortably above 30%. The consequent cash generation has been used to reduce bank borrowings still further from previously reported levels.

The integration of the RBS Asset Management business is largely complete, with the team having moved into Aberdeen's offices in late February. We are also making good progress on the project to integrate more fully our property asset management activities.

The Group is focused on driving strong organic growth from its platform of diverse investment capabilities, with an emphasis on growing recurring revenues, controlling costs and using the resultant cashflows to eliminate debt. We have also sought the FSA's confirmation that they have no objections to our converting the 7.9% perpetual subordinated capital securities ("Capital Securities") into non-cumulative perpetual preference shares, as we are permitted to do under the terms of the Capital Securities; this will improve the quality of our capital further and reinforce the equity nature of these instruments.

Martin Gilbert, Chief Executive at Aberdeen Asset Management, commented:

"Good new business flows, strong investment performance and improving margins continue to enable us to strengthen our balance sheet. We remain firmly focused on organic growth, generating cash and reducing debt.

"The recent acquisition and integration of certain businesses from RBS Asset Management broadens the product range we offer our clients in terms of alternative investment strategies. Together with our equity, fixed income and property expertise Aberdeen is well placed to grow via our global distribution platforms."

The announcement of the company's results for the six months to 31 March 2010 will be made on 4 May 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

Charlotte Walsh

ASSETS UNDER MANAGEMENT AT 28 FEBRUARY 2010

Note: £4.6 billion of low margin passive AuM, which was reported as equities in previous periods, has now been reclassified and included within alternative investment strategies.

NEW BUSINESS FLOWS FOR FIVE MONTHS TO 28 FEBRUARY 2010