For Representatives Only 1 Put the Pieces Together for your Clients’ Retirement Standard Life RRSP Season 2004 For representatives only This communication is internal and confidential, for the exclusive use of the representative. It is not designated to be passed on to any investor or potential investor.

For Representatives Only 2 Putting the pieces together for your clients’ retirement Selecting the right investments Focus on “complete package” –Retirement planning expertise –Extensive product line-up –Competitive rates –Consistent performance and competitive fees At Standard Life, we have all the key pieces to address your clients’ needs for registered and non-registered savings plans. Give your clients more this RRSP Season

For Representatives Only 3 Agenda RRSP Specials Ideal Portfolios Updated Renaming of Ideal Funds New Ideal Monthly Income Fund New Loan Programs Updated Guarantee Enhancer Ideal Solutions by Phone

For Representatives Only 4 “Best” 1-year and 5-year rates plus 3/8% bonus Monitoring rates daily on CANNEX “Best” 1-year and 5-year non-redeemable term fund rates –equal to or higher than the top posted rates of 5 major life insurers Top the “best” rates by 3/8% New and existing savings clients are eligible –New clients require a deposit of $50,000 to term funds –Existing clients require $50,000 in total term fund assets. This special offer – available on our Ideal Solutions for Savings contracts – is over and above our normal rate banding.

For Representatives Only 5 45-day “Better of” Rate Basis Guarantee Your savings clients will receive the better of two rates on their deposits and renewals – within 45 days: –The rate in effect on the day of signing the Rate Basis Guarantee request, or –On the day the funds are received or reinvested The “Better of” Rate Basis Guarantee applies to requests signed by March 31, 2004.

For Representatives Only 6 Term Fund Plus–1% bonus–no set-up fee We’re waiving the $200 set-up fee for Term Fund Plus deposits of $100,000 and more. There’s no better time to take a look at what Term Fund Plus has to offer: –Minimum investment of $25,000 –1% above our redeemable Term Fund rate –Customized terms of 5 to 10 years –Redeemable at any time, with a positive or negative Market Value Adjustment

For Representatives Only 7 December 1, March 31, 2004 RRSP Season runs until March 1 st, but our special continue until March 31 st ! We’ve pumped up our RRSP promotions and are extending them to your non-registered savings clients as well*. What’s more, our promotions run to March 31, 2004 – giving you one more month even after everyone else’s RRSP promotions have come and gone. * For the special rate offer, registered and non-registered assets are treated separately.

For Representatives Only 8 Ideal Portfolios – an all-in-one solution Conservative Asset Mix: 70% fixed income/30% equities Moderate Asset Mix: 60% fixed income/40% equities Growth Asset Mix: 40% fixed income/60% equities Aggressive Asset Mix: 20% fixed income/80% equities Now available on FundSERV through our Ideal Series contracts.

For Representatives Only 9 Ideal Segregated Funds get renamed OldNew Ideal Bond FundIdeal Canadian Bond Fund Ideal International Bond FundIdeal International Bond RSP Fund Ideal Canadian Dividend FundIdeal Canadian Dividend Growth Fund Ideal Equity FundIdeal Canadian Equity Fund Ideal Growth Equity FundIdeal Canadian Small Cap Fund Ideal Active U.S. Index RSP FundIdeal Tactical U.S. Equity RSP Fund Ideal Active Global Index RSP FundIdeal Tactical Global Equity RSP Fund

For Representatives Only 10 The Ideal Monthly Income Fund completes our balanced fund offering The Ideal Monthly Income Fund targets clients seeking higher income than with a traditional balanced fund but with the potential for greater capital growth than with an income balanced fund. Potential Return Potential Risk Income Balanced Monthly Income Balanced Bonds Equities Income trusts Cash

For Representatives Only 11 Ideal Monthly Income Fund highlights *Wrap of the Monthly Income Mutual Fund Objectives –steady flow of income -capital preservation -potential for capital growth Competitive management fees* –Back-end load: 2.40% –No load: 2.55% Proven investment style of Standard Life Investments Inc. Mutual fund a 1st quartile performer Tax efficient and tax deferred income option available only through non-registered mutual fund product Bond Analysis –Higher duration –Higher average term to maturity –Greater emphasis on long term bonds –Greater emphasis on corporate bonds Equity Analysis –Some of Equity positions also present in Ideal Canadian Dividend Growth Fund –Low P/E Ratio – value bias –Lower Portfolio Turnover –Greater Dividend Yield * This fund may also be subject to other fees. Please refer to the Information Folder.

For Representatives Only 12 Comparing the Monthly Income Fund Standard Life Monthly Income Fund (underlying mutual fund) Ideal Segregated Fund Tax efficient and tax deferred Income – Non Reg  Focus on capital preservation and potential for capital growth  Standard Life Investments Inc.  Competitive management fees   Capital Guarantees, Creditor Protection, Estate Preservation 

For Representatives Only 13 Low interest rates = the ideal time to borrow Loans available from B2B –Early Bird loan offers rates at Prime from November 3, 2003 to January 30, 2004 –Traditional loan gives your clients two interest rate options to choose from: variable and fixed –Top-up Loans for those who want to maximize their RRSP contributions flexible amortization schedules up to 10 years –B2B’s RRSP loan allows your clients to take a 120-day “repayment holiday” (from the date the loan was funded) while their money starts working for them right away! * B2B is whole owned subsidiary of Laurentian Bank of Canada

For Representatives Only 14 RRSP Loan Program available from B2B Early BirdTraditionalTop-Up Minimum loan amount $2,500 $5,000$10,000 Maximum loan amount $14,500 $9,999$50,000 Amortization1 - 2 years years years Variable Interest rate* Prime (between Nov 3, 2003 and Jan 30, 2004) 1 year: Prime 2 years: Prime % Prime %1 - 5 years: Prime % years: Prime % Fixed Rate**N/A1 year: 5.50% 2 years: 6.00% N/A * Laurentian Bank of Canada Prime Rate ** Fixed rate: Rates shown are as of October 31, 2003 and are subject to change without notice

For Representatives Only 15 Borrowing for investment leveraging 2 for 1 Investment Loan100% Investment Loan For every client dollar, B2B Trust will lend up to two dollars to purchase eligible non-registered Ideal Segregated Funds, which are held as collateral. B2B Trust will finance 100% of an investment in eligible non-registered Ideal Segregated Funds, which is held as collateral Interest only payments with a margin call option or Monthly payments of principal plus interest with a no margin call option, amortized for a period of up to 20 years Monthly payments of principal plus interest, amortized for a period of up to 20 years

For Representatives Only 16 The Standard Life Guarantee Enhancer Your clients can: get a guaranteed return of principal … 100% put a cap on the amount of loss they are willing to risk participate in the upside potential of equities lower their portfolio volatility, and lower their overall portfolio cost structure A safe investment strategy for volatile times The Guarantee Enhancer combines a Standard Life 10-year Term Fund with Standard Life’s Ideal Segregated Funds set for a 10 year maturity

For Representatives Only 17 Standard Life Guarantee Enhancer: Summary Report

For Representatives Only 18 Summary of Benefits Minimum guaranteed 100% return of principal after 10 years Unlimited upside equity exposure A cap on risk exposure puts clients at ease Potential creditor protection Proven award-winning investment management style Potential for probate delay and cost avoidance Six-month Total Customer Satisfaction Guarantee

For Representatives Only 19 RRSP Kit RRSP flyer (5174/F5174) What's New? flyer (4875/F4875) Ideal Monthly Income Fund snapshot (5151/F5151) RRSP and Investment Loan Program brochure (4791/F4791) Updated Ideal Segregated Funds - Fund Facts (3967/F3967)

For Representatives Only 20 RRSP 2004 highlights “Best” 1-year and 5-year non-redeemable rates plus 3/8% bonus 45-day “Better of” Rate Basis Guarantee Term Fund Plus – 1% bonus – no set-up fee RRSP Loans Investment Loans Ideal Portfolios Guarantee Enhancer

For Representatives Only 21 Ideal Solutions by Phone Let us help you take care of the paperwork Give us a call at

For Representatives Only 22 RRSP Season 2004 Standard Life For representatives only This communication is internal and confidential, for the exclusive use of the representative. It is not designated to be passed on to any investor or potential investor.