Release date: 14 April 2005

On 13 April 2005, with the approval of shareholders and the Financial Services Authority, the ownership of Pearl, London Life and NPI changed from HHG Plc to Pearl Group Limited.

Pearl Group Limited, a new company formed by Sun Capital Partners and TDR Capital, specialises in the management of closed life assurance and pension books, and aims to become a dedicated investor in closed life businesses.

The Pearl Group Limited website contains further information about the new company.

The change of ownership has no impact on customer policies.

* 'Life Services' was the name of the business within HHG plc that included London Life, Pearl and NPI (from December 2003 to April 2005).