LONDON, 1 August 2007 — BNY Mellon Asset Servicing, the global leader in asset servicing, has been appointed by Scottish Widows Investment Partnership Limited (SWIP) to provide transfer agency services for SWIP's UK-based funds registered under the following entities: Scottish Widows Investment Partnership Limited, SWIP Fund Management Limited, and SWIP Multi-Manager Funds Limited. These funds include Sterling, Dollar and Euro currencies and have a combined value of £12.5 billion.

Commenting on the appointment, Paul North, Business Development Director at BNY Mellon Asset Servicing, said: "Retention of important business like this recognises our success in delivering high quality client service and reflects our client's confidence in our ability to continue to out-perform on our commitments."

Arun Sarwal, Chief Operating Officer at Scottish Widows Investment Partnership, comments: "Our activity in the fund sector has grown significantly over the last two years. According to the Feri UK Fund Sales Report Q4, SWIP is number one for net retail sales in 2006 with net inflows almost at the £3 billion mark. Not surprisingly therefore, selecting a business partner for this service was an important decision for us. We reviewed our clients' needs and conducted a structured evaluation of our transfer agency requirements, before we concluded that BNY Mellon Asset Servicing remained the best choice for our clients and fit with our continually improving operating platform. We were impressed with their enthusiasm and commitment to evolve their service in line with changing needs. This milestone has come at a significant time for both organisations, as we prepare ourselves for the next phase of growth in our businesses."

The Bank of New York Mellon Corporation is a global financial services company focused on helping clients manage and move their financial assets, operating in 37 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services and treasury services through a worldwide client-focused team. It has more than $20 trillion in assets under custody and administration and more than $1 trillion in assets under management. Additional information is available at www.bnymellon.com.

Scottish Widows Investment Partnership

1. SWIP is one of the UK and Europe's largest fund managers with £103.6bn funds under management (as at 31 March 2007).
2. SWIP has a broad client base, managing assets for Pension Funds, Charities, Local Authorities, Life Funds, Unit Trusts, OEICs, Off-Shore Funds and Specialist Funds across all asset classes.
3. It has a geographical diverse client base with alliances, joint ventures and clients in the UK, Europe, USA and Japan.
4. SWIP is ranked 28th out of 100 European Money Managers (source Institutional Investment magazine November 2006).
5. SWIP's ultimate parent is Lloyds TSB Group Plc, one of largest financial services groups in the UK.
6. SWIP is authorised and regulated by the Financial Services Authority.