Trading update

ABERDEEN ASSET MANAGEMENT PLC

TRADING UPDATE

· Assets under Management were £186.5 billion at 28 February 2014 (31 December 2013: £193.6 billion) due to continuing weakness in emerging markets

· Gross new business of £4.0 billion in the two month period under review; net outflows of £3.9 billion spread across asset classes

· Estimated net outflows in March of £0.2 billion

· Strong pipeline of business awarded but not funded at 28 February across investment divisions, of which £1.2 billion has been received as inflows during March

· Significant additional cost savings, over and above the synergies from the SWIP integration, have been identified and being implemented

Martin Gilbert, Chief Executive of Aberdeen, commented:

"Encouraging inflows to emerging market debt, high yield bonds and property have partly offset net outflows from our Asian and emerging market equity products, and we have seen further growth in the pipeline of new business awarded but not funded at the end of February.

"Conditions in emerging markets remain subdued, and we have therefore identified and are implementing some cost savings, over and above the synergies we expect from the SWIP transaction. However, we will not change our long-term approach to investment which has delivered excellent returns to our clients over time and we look forward to building on the additional scale and product diversity that the acquisition of SWIP brings."

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

Tom Eckersley

Trading update

Aberdeen provides the following trading update for the period to 28 February 2014.

Assets under management ("AuM") at 28 February 2014 totalled £186.5 billion, a 4% decrease on the total at 31 December 2013, as reported in our last Interim Management Statement. The principal movements are summarised in the following table.

Gross new business flows for the two months to 28 February 2014 totalled £4.0 billion, bringing the total for the five months year to date to £10.8 billion (five months to 28 February 2013: £20.3 billion). Net new business showed outflows of £3.9 billion in the two months to 28 February 2014, resulting in net outflows of £8.4 billion for the five month period (five months to 28 February 2013: net inflow £4.6 billion).

The difficult market conditions during the period are reflected in net outflows from our Asia Pacific and emerging market equities products, but we have seen continued steady inflows to our emerging market debt, high yield bond and property capabilities.

We have seen continued growth in our pipeline of new business, with mandates totalling approximately £3.6 billion awarded but not yet funded at 28 February 2014. This pipeline is well spread across our emerging markets (bonds and equities), Japanese and global equities, property and multi asset capabilities, and approximately £1.2 billion has been received as inflows during March.

We have today announced completion of the acquisition of Scottish Widows Investment Partnership and we look forward to delivering the benefits of this transaction and the strategic relationship with Lloyds Banking Group. The process of integrating the two businesses begins today, and we remain comfortable with the level of cost synergies we identified in our announcement of the transaction. In addition, we have identified and are implementing savings of discretionary expenditure, budgeted within the existing Aberdeen Group.

We remain cautious on the global market outlook and investor sentiment, but we remain committed to adding value for our clients and shareholders through our long term investment philosophy.

The announcement of the company's interim results for the six months to 31 March 2014 will be made on 6 May 2014.

ASSETS UNDER MANAGEMENT AT 28 FEBRUARY 2014

OVERALL NEW BUSINESS FLOWS FOR 5 MONTHS TO 28 FEBRUARY 2014 - BY MANDATE TYPE

OVERALL NEW BUSINESS FLOWS FOR 5 MONTHS TO 28 FEBRUARY 2014 - BY ASSET CLASS

NEW BUSINESS FLOWS FOR 5 MONTHS TO 28 FEBRUARY 2014 - EQUITIES

NEW BUSINESS FLOWS FOR 5 MONTHS TO 28 FEBRUARY 2014 - FIXED INCOME

NEW BUSINESS FLOWS FOR 5 MONTHS TO 28 FEBRUARY 2014 - ABERDEEN SOLUTIONS