Scottish Widows plc Notice to Noteholders (0150K)

TIDM40VY

RNS Number : 0150K

Scottish Widows plc

23 December 2015

NOTICE TO HOLDERS OF 2043 NOTES

23 DECEMBER 2015

NOTICE TO HOLDERS OF THE GBP650,000,000 7.00 PER CENT. SUBORDINATED NOTES DUE 2043 (ISIN: XS0914791768) (THE "NOTES") ISSUED BY SCOTTISH WIDOWS PLC (THE "ISSUER")

Court approved transfer of the entire long term insurance business of the Issuer to Clerical Medical Investment Group Limited ("CMIG") to become effective on 31 December 2015

The Issuer hereby notifies Noteholders that, on 26 November 2015, the High Court approved the transfer of the whole of the Issuer's business (including its liabilities and obligations under the Notes) to CMIG by way of an insurance business transfer scheme (the "Scheme") in accordance with Part VII of the Financial Services and Markets Act 2000.

Capitalised terms used in this notice and not otherwise defined shall have the meanings given to them in the trust deed dated 16 April 2013 between the Issuer and The Law Debenture Trust Corporation p.l.c..

The Scheme was approved at a Court hearing on 26 November 2015 and will take effect at 23:59 GMT on 31 December 2015 (the "Effective Date").

On the Effective Date, all the liabilities and obligations of the Issuer under the Notes will automatically transfer to CMIG and CMIG (expected to be renamed as Scottish Widows Limited on such date, subject to the approval of Companies House) will become the Issuer of the Notes from the Effective Date.

If you have any questions relating to the transfer please contact the Issuer in writing or Investor Relations using the details below.

FURTHER INFORMATION AND CONTACTS

Investor Relations

Lloyds Banking Group plc

25 Gresham Street

London

EC2V 7HN

Tel: 020 7356 3537

The Issuer

PO Box 28139

Edinburgh

EH16 9BQ