A special general meeting will be held in Edinburgh, Scotland, the head office of The Standard Life Assurance Co., on May 31, 2006 to seek members’ approval of the board;s proposal that Standard Life demutualize and float on the London Stock Exchange.

All voting members of Standard Life are entitled to vote on the demutualization and flotation proposal.

Vote and proposal packs have been mailed to the approximately 2.4 million eligible members and a further 2.1 million policyholders worldwide. This includes approximately 61,000 eligible members in Canada.

Sir Brian Stewart, chairman of Standard Life, has stated that, “Every single member of the Board recommends that you vote ‘yes’ – demutualization and flotation can’t go ahead unless at least 75% of members who vote, vote ‘yes’.” Joseph Iannicelli, president and CEO of The Standard Life Assurance Co. of Canada, wholeheartedly endorses this statement, “Every voting member has one vote and every vote counts. Many people assume that demutualization and flotation will definitely go ahead. This is not the case. I encourage voting members, if they have not already voted, to vote now and have their say in Standard Life’s future.”

The vote and proposal packs issued to voting members include the Proposal for members and policyholders, a voting form and a postage-paid return envelope. In Canada, the pack also includes a notice to policyholders. Members are asked to consider the proposal and decide which way to vote.

Although voting members are welcome at the special general meeting, attendance is not required in order to vote. Voting members may use their voting form to tell the chairman – or someone else who will be at the meeting – how they wish to vote.

Voting forms must be received by the company no later than midnight (UK time) on Sunday, May 28, 2006. Forms that arrive after this deadline will not count, although voting members can still vote in person at the special general meeting.

Members who would like more information on the demutualization proposal are invited to visit Standard Life’s Web site at www.standardlife.ca, or to contact Standard Life at 1 888 676-4100. Lines are open from 8:30 am to 5:00 pm, Eastern and Mountain Time, Monday to Friday.