Census Investments 21 plc

Semi-Annual Report

and

Unaudited Financial Statements

For the period ended 30 September 2009

 

 

 

 

 

 

 

 

 

 

General Information	2
Company Background	3-10
Investment Manager's Report	11-36
Management Report	37
Directors' Responsibility Statement	38
Schedule of Investments	39-42
Statement of Operations	43-45
Statement of Assets and Liabilities	46-47
Statement of Changes in Net Assets Attributable to Participating Shareholders	48-51
Statement of Cash Flows	52-55
Notes to the Financial Statements	56-65

Directors:        Mr. Robert Burke *

                       Mr. Dermot S.L. Butler *

        

Company and              Census Investments 21 plc

Registered Office:        85 Merrion Square

                                    Dublin 2 

                                    Ireland

Market Maker & Investment     Abbey National Financial Products

  Manager:     Abbey National House

              2 Triton Square

              Regent's Place

                                                  London NW1 3AN

Administrator        Citibank Europe plc

and Registrar:        1 North Wall Quay

                               Dublin 1

Custodian:     Citibank International plc, Ireland Branch

                      1 North Wall Quay

                      Dublin 1

   

Auditors:        Ernst & Young

                       Chartered Accountants

                      Ernst & Young Building

                      Harcourt Centre

                      Harcourt Street

                      Dublin 2

    

Secretary:             Mr. Dermot S.L. Butler

                             25 Eden Quay    

                  Dublin 1

Irish Legal            McCann Fitzgerald

Advisers:               Riverside One

                             Sir John Rogerson's Quay

                            Dublin 2

Sponsoring            McCann Fitzgerald

Broker:                 Riverside One

                             Sir John Rogerson's Quay

                             Dublin 2

* Independent non-executive director

Census Investments 21 Plc is an umbrella investment company with variable capital incorporated on 28 February 2001 (registration number 339535) under the laws of Ireland and authorised under Part XIII of the Companies Act, 1990 as a designated closed-ended investment company pursuant to Section 256 of that Act. 

The Company has been established for the purpose of the collective investment of capital raised from investors, operating on the principle of risk-spreading. The proceeds from the issue of Shares in the Company shall be applied in the records and accounts of the Company and the assets and liabilities and income and expenditure attributable thereto shall be applied to the Company subject to the provisions of the Memorandum and Articles of Association.

Under the Articles of Association the Directors have the power to issue different classes of Shares of the Company. A summary of the calculation of returns on the Classes of Shares in issue during the period is included here:

44G Shares

Holders of 44G Shares shall not be entitled to any dividends but shall receive an amount per Share, upon the Class Fund Termination Date (15 May 2009), calculated as the greater of:

• £1.00 x (100% plus the Final Index Growth) 

• £1.20 per Share held at the end of the life of the Class Fund (the minimum return).

The Final Index Growth shall be the sum of the Index Growths in each of the twelve Semi-annual periods. Shareholders should therefore note, that in the event that any Index Growth for a Semi-annual Period is a negative number, it will be deducted from the aggregate Index Growth for all Semi-annual Periods. Furthermore, for each Semi-annual Period the Index Growth is subject to a maximum of 4.166% and a minimum of -4.166%. Index means the FT-SE 100 Index.

52G Shares

Holders of 52G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 52G Plan Investments upon the Class Fund Termination Date (6 July 2009) calculated as the greater of:

(i) £1.00 x (100% plus the Final Index Growth) 

(ii)     £1.20 per Share held at the end of the life of the Class Fund (the minimum return).

The Final Index Growth shall be the sum of the Index Growths in each of the twelve Semi-annual periods. Shareholders should therefore note, that in the event that any Index Growth for a Semi-annual Period is a negative number, it will be deducted from the aggregate Index Growth for all Semi-annual Periods. Furthermore, for each Semi-annual Period the Index Growth is rounded to the nearest four decimal places and is subject to a maximum of 4.1667% and a minimum of -4.1667%. Index means the FT-SE 100 Index.

58G Shares

Holders of 58G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 58G Plan Investments upon the Class Fund Termination Date (18 May 2009) calculated as the greater of:

(i)     £1.00 + (£1.00 x 80% x (Final Index Growth); and

(ii)    £1.00.

Where 'Final Index Growth' means: (Final Index Level - Initial Index Level)/Initial Index Level, rounded to the nearest £0.0001 per 58G Share.

Index means the FT-SE 100 Index.

59G Shares 

Holders of 59G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 59G Plan Investments upon the Class Fund Termination Date (18 May 2009) calculated as:

(i)    if the Final Index Level is greater than or equal to the Initial Index Level: £1.00 per 59G Share plus £0.02 per 59G Share for every 1%, by which the Final Index Level exceeds the Initial Index Level, subject to a maximum £2.00 per 59G Share;

(ii)      if the Final Index Level is less than the Initial Index Level, but there has been no Safety Zone Breach: £1.00 per 59G Share;

if the Final Index Level is less than the Initial Index Level and there has been a Safety Zone Breach: £1 per 59G Share less £0.01 per 59G Share for every 1%, by which the Final Index Level is less than the Initial Index Level.

Index means the FT-SE 100 Index. Return of initial investment is dependent on the Final Index Level and the operation of the Safety Zones.

62G Shares

Holders of 62G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 62G Plan Investments upon the Class Fund Termination Date (21 August 2009) calculated as:

 (i)    £1.00 x (100% plus the Final Index Growth) 

 (ii) £1.20 per Share held at the end of the life of the Class Fund (the minimum return).

The Final Index Growth shall be the sum of the Index Growths in each of the twelve Semi-annual periods. Shareholders should therefore note, that in the event that any Index Growth for a Semi-annual Period is a negative number, it will be deducted from the aggregate Index Growth for all Semi-annual Periods. Furthermore, for each Semi-annual Period the Index Growth is rounded to the nearest four decimal places and is subject to a maximum of 4.1667% and a minimum of -4.1667%. Index means the FT-SE 100 Index

63G Shares

Holders of 63G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 63G Plan Investments upon the Class Fund Termination Date (22 April 2009) calculated as the greater of:

(i) £1.00 x (100% plus the Final Index Growth) 

The Final Index Growth shall be the sum of the Index Growths in each of the eleven Semi-annual periods. Shareholders should therefore note, that in the event that any Index Growth for a Semi-annual Period is a negative number, it will be deducted from the aggregate Index Growth for all Semi-annual Periods. Furthermore, for each Semi-annual Period the Index Growth is rounded to the nearest four decimal places and is subject to a maximum of 3.65% and a minimum of -3.65%. For the avoidance of doubt the maximum return per 63G Share held at the end of the life of the Class Fund is £1.4015.

(ii)     £1.15 per Share held at the end of the life of the Class Fund (the minimum return).

Index means the FT-SE 100 Index.

64G Shares

Holders of 64G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 64G Plan Investments upon the Class Fund Termination Date (22 April 2009) calculated as the greater of:

 (i) £1.00 + (£1.00 x 75% x (Final Index Growth); and 

 (ii) £1.00.

Where 'Final Index Growth' means: (Final Index Level - Initial Index Level)/Initial Index Level, rounded to the nearest £0.0001 per 64G Share.

The Investment Manager will determine the Final Index Level, which will be the arithmetic average of the closing levels of the Index published in respect of each Index Business Day during the Final Valuation Period, subject to adjustment pursuant to a Market Disruption Event, Adjustment to Index or Correction of Index. Index means the FT-SE 100 Index.

65G Shares

Holders of 65G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 65G Plan Investments upon the Class Fund Termination Date (22 April 2009) calculated as:

(i)    If Final Index Level is greater than or equal to Initial Index Level:

    £1.00 + (£1.00 x 200% x (Final Index Growth), subject to a maximum return of £1.50; or

(ii)     If Final Index Level is less than Initial Index Level:

    £1.00 + (£1.00 x Final Index Growth ), subject to a minimum of £0.85.

 

Where Final Index Growth means (Final Index Level - Initial Index Level)/Initial Index Level, rounded to the nearest £0.0001 per 65G Share.

The Investment Manager will determine the Final Index Level, which will be the arithmetic average of the closing levels of the Index published in respect of each Index Business Day during the Final Valuation Period, subject to adjustment pursuant to a Market Disruption Event, Adjustment to Index or Correction of Index. Index means the FT-SE 100 Index.

66G Shares

Holders of 66G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 66G Plan Investments upon the Class Fund Termination Date (9 October 2009) calculated as the greater of:

(i) £1.00 x (100% plus the Final Index Growth) 

The Final Index Growth shall be the sum of the Index Growths in each of the twelve Semi-annual periods. Shareholders should therefore note, that in the event that any Index Growth for a Semi-annual Period is a negative number, it will be deducted from the aggregate Index Growth for all Semi-annual Periods. Furthermore, for each Semi-annual Period the Index Growth is rounded to the nearest four decimal places and is subject to a maximum of 4.1667% and a minimum of -4.1667%. For the avoidance of doubt the maximum return per 66G Share held at the end of the life of the Class Fund is £1.50.

or

• £1.20 per Share held at the end of the life of the Class Fund (the minimum return).

Index means the FT-SE 100 Index.

73G Shares

Holders of 73G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 73G Plan Investments upon the Class Fund Termination Date (16 July 2009) calculated as the greater of:

(i)     £1.00 x (100% plus the Final Index Growth)

The Final Index Growth shall be the sum of the Index Growths in each of the eleven Semi-annual periods. Shareholders should therefore note, that in the event that any Index Growth for a Semi-annual Period is a negative number, it will be deducted from the aggregate Index Growth for all Semi-annual Periods. Furthermore, for each Semi-annual Period the Index Growth is rounded to the nearest four decimal places and is subject to a maximum of 4.55% and a minimum of -4.55%. For the avoidance of doubt the maximum return per 73G Share held at the end of the life of the Class Fund is £1.5005.

or

(ii)     £1.17 per Share held at the end of the life of the Class Fund (the minimum return).

75G Shares

Holders of 75G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 75G Plan Investments upon the Class Fund Termination Date (16 July 2009) calculated as:

If Final Index Level is greater than or equal to Initial Index Level:

£1.00 + (£1.00 x 200% x (Final Index Growth)), subject to a maximum return of £2.00; or

If Final Index Level is less than Initial Index Level:

£1.00 + (£1.00 x Final Index Growth).

Where Final Index Growth means (Final Index Level - Initial Index Level)/Initial Index Level, rounded to the nearest £0.0001 per 75G Share. For the avoidance of doubt Final Index Growth may be a negative number. 

 

The Investment Manager will determine the Final Index Level, which will be the arithmetic average of the closing levels of the Index published in respect of each Index Business Day during the Final Valuation Period, subject to adjustment pursuant to a Market Disruption Event, Adjustment to Index or Correction of Index. The Company's determination of the 75G Share Investor Return is final. For the avoidance of doubt, Shareholders should note that the amount payable per 75G Share will only be zero, if the Final Index Level is zero. Index means the FT-SE 100 Index.

77G Shares

Holders of 77G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 77G Plan Investments upon the Class Fund Termination Date (27 November 2009) calculated as the greater of:

(i)    £1.00 x (100% plus the Final Index Growth) 

The Final Index Growth shall be the sum of the Index Growths in each of the twelve Semi-annual periods. Shareholders should therefore note, that in the event that any Index Growth for a Semi-annual Period is a negative number, it will be deducted from the aggregate Index Growth for all Semi-annual Periods. Furthermore, for each Semi-annual Period the Index Growth is rounded to the nearest four decimal places and is subject to a maximum of 4.1667% and a minimum of -4.1667%. For the avoidance of doubt the maximum return per 77G Share held at the end of the life of the Class Fund is £1.50.

or

(ii)     £1.20 per Share held at the end of the life of the Class Fund (the minimum return).

Index means the FT-SE 100 Index.

79G Shares

Holders of 79G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 79G Plan Investments upon the Class Fund Termination Date (18 May 2009) calculated as:

(i)    if the Final Index Level is greater than or equal to the Initial Index Level:

£1.00 per 79G Share plus £0.02 per 79G Share for every 1%, by which the Final Index Level exceeds the Initial Index Level, subject to a maximum £1.80 per 79G Share;

(ii)    if the Final Index Level is less than the Initial Index Level, but there has been no Safety Zone Breach:

£1.00 per 79G Share;

(iii)    if the Final Index Level is less than the Initial Index Level and there has been a Safety Zone Breach: £1 per 79G Share less £0.01 per 79G Share for every 1%, by which the Final Index Level is less than the Initial Index Level.

Where the difference between the Final Index Level and the Initial Index Level results in a fraction of 1%, the fraction will be applied, rounded to the nearest £0.0001 per 79G Share. Index means the FT-SE 100 Index.

80G Shares

Holders of 80G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 80G Plan Investments upon the Class Fund Termination Date (7 December 2009) calculated as:

(i)    if the Final Index Level is greater than or equal to the Initial Index Level:

£1.00 per 80G Share plus £0.02 per 80G Share for every 1%, by which the Final Index Level exceeds the Initial Index Level, subject to a maximum £1.80 per 80G Share;

(ii)    if the Final Index Level is less than the Initial Index Level, but there has been no Safety Zone Breach: 

£1.00 per 80G Share;

(iii)    if the Final Index Level is less than the Initial Index Level and there has been a Safety Zone Breach: £1 per 80G Share less £0.01 per 80G Share for every 1%, by which the Final Index Level is less than the Initial Index Level. Where the difference between the Final Index Level and the Initial Index Level results in a fraction of 1%, the fraction will be applied, rounded to the nearest £0.0001 per 80G Share.

Index means the FT-SE 100 Index.

82G Shares

Holders of 82G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 82G Plan Investments upon the Class Fund Termination Date (7 January 2010) calculated as the greater of:

(i)    £1.00 x (100% plus the Final Index Growth) 

The Final Index Growth shall be the sum of the Index Growths in each of the twelve Semi-annual periods. Shareholders should therefore note, that in the event that any Index Growth for a Semi-annual Period is a negative number, it will be deducted from the aggregate Index Growth for all Semi-annual Periods. Furthermore, for each Semi-annual Period the Index Growth is rounded to the nearest four decimal places and is subject to a maximum of 4.1667% and a minimum of -4.1667%. For the avoidance of doubt the maximum return per 82G Share held at the end of the life of the Class Fund is £1.50.

or

(ii)     £1.225 per Share held at the end of the life of the Class Fund (the minimum return).

Index means the FT-SE 100 Index.

85G Shares

Holders of 85G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 85G Plan Investments upon the Class Fund Termination Date (2 July 2009) calculated as:

(i)     If the Final Index Level is greater than or equal to the Initial Index Level: £1.35 per 85G Share; or

(ii)    If the Final Index Level is less than the Initial Index Level: £1.00 per 85G Share.

The Investment Manager will determine the Final Index Level, which will be the arithmetic average of the closing levels of the Index published in respect of each Index Business Day during the Final Valuation Period, subject to adjustment pursuant to a Market Disruption Event, Adjustment to Index or Correction of Index. 

Index means the FT-SE 100 Index.

86G Shares

Holders of 86G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 86G Plan Investments upon the Class Fund Termination Date (2 July 2009) calculated as:

(i)    if the Final Index Level is greater than or equal to the Initial Index Level: £1.50 per 86G Share;

• if the Final Index Level is less than the Initial Index Level, but there has been no Safety Zone Breach: £1.00 per 86G Share;

(iii)    if the Final Index Level is less than the Initial Index Level and there has been a Safety Zone Breach: £1.00 per 86G Share less £0.01 per 86G Share for every 1%, by which the Final Index Level is less than the Initial Index Level.

Where the difference between the Final Index Level and the Initial Index Level results in a fraction of 1%, the fraction will be applied, rounded to the nearest £0.0001 per 86G Share.

Index means the FT-SE 100 Index.

87G Shares

Holders of 87G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 87G Plan Investments upon the Class Fund Termination Date (25 August 2009) calculated as the greater of:

(i)    £1.00 x (100% plus the Final Index Growth) 

    The Final Index Growth shall be the sum of the Index Growths in each of the eleven Semi-annual periods. Shareholders should therefore note, that in the event that any Index Growth for a Semi-annual Period is a negative number, it will be deducted from the aggregate Index Growth for all Semi-annual Periods. Furthermore, for each Semi-annual Period the Index Growth is rounded to the nearest four decimal places and is subject to a maximum of 4.55% and a minimum of -4.55%. For the avoidance of doubt the maximum return per 87G Share held at the end of the life of the Class Fund is £1.5005.

or

(ii)    £1.18 per Share held at the end of the life of the Class Fund (the minimum return).

Index means the FT-SE 100 Index.

89G Shares

Holders of 89G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 89G Plan Investments upon the Class Fund Termination Date (1 February 2010) calculated as the greater of:

(i)     £1.00 + (£1.00 x 100% x (Final Index Growth); and

• £1.00.

Where 'Final Index Growth' means: (Final Index Level - Initial Index Level)/Initial Index Level, rounded to the nearest £0.0001 per 89G Share.

The Investment Manager will determine the Final Index Level, which will be the arithmetic average of the Index levels at the Valuation Time on each Index Business Day during the Final Valuation Period. The Company's determination of the 89G Share Investor Return is final.  

Index means the FT-SE 100 Index.

90G Shares

Holders of 90G Shares shall not be entitled to any dividends but shall receive an amount per Share payable through the maturity of the 90G Plan Investments upon the Class Fund Termination Date (1 February 2010) calculated as the greater of:

(i)     £1.00 + (£1.00 x 100% x (Final Index Growth); and

(ii) £1.00.

Where 'Final Index Growth' means: (Final Index Level - Initial Index Level)/Initial Index Level, rounded to the nearest £0.0001 per 90G Share.

The Investment Manager will determine the Final Index Level, which will be the arithmetic average of the Index published in respect of each month during the Final Valuation Period. The Company's determination of the 90G Share Investor Return is final. Index means the Halifax UK National all houses, all buyers, non-seasonally adjusted House Price Index.

92G Shares 

Holders of 92G Shares shall not be entitled to any dividends but shall receive an amount per Share on the Class Fund Termination Date (12 November 2009) calculated as the greater of:

£1.00 x (100% plus the Final Index Growth) 

(i)    The Final Index Growth shall be the sum of the Index Growths in each of the eleven Semi-annual periods. Shareholders should therefore note, that in the event that any Index Growth for a Semi-annual Period is a negative number, it will be deducted from the aggregate Index Growth for all Semi-annual Periods. Furthermore, for each Semi-annual Period the Index Growth is rounded to the nearest four decimal places and is subject to a maximum of 4.55% and a minimum of -4.55%. For the avoidance of doubt the maximum return per 92G Share held at the end of the life of the Class Fund is £1.5005.

or

(ii)     £1.18 per Share held at the end of the life of the Class Fund (the minimum return).

Index means the FTSE-100 Index.

93G Shares 

Holders of 93G Shares shall not be entitled to any dividends but shall receive an amount per Share on the Class Fund Termination Date (12 November 2009) calculated as the greater of:

(i)     £1.00 + (£1.00 x 100% x (Final Index Growth)); and

(ii)    £1.00.

Where 'Final Index Growth' means: (Final Index Level - Initial Index Level)/Initial Index Level, rounded to the nearest £0.0001 per 93G Share.

The Investment Manager will determine the Final Index Level, which will be the arithmetic average of the closing levels of the Index published in respect of each Index Business Day during the Final Valuation Period, subject to adjustment pursuant to a Market Disruption Event, Adjustment to Index or Correction of Index.

Index means the FTSE-100 Index.

94G Shares 

Holders of 94G Shares shall not be entitled to any dividends but shall receive an amount per Share on the Class Fund Termination Date (30 April 2010) calculated as the greater of:

(i)     £1.00 + (£1.00 x 101% x Final Index Growth); and

• £1.00.

Where 'Final Index Growth' means: (Final Index Level - Initial Index Level)/Initial Index Level, rounded to the nearest £0.0001 per 94G Share.

The Investment Manager will determine the Final Index Level, which will be the arithmetic average of the Index levels at the Valuation Time on each Index Business Day during the Final Valuation Period. The Company's determination of the 94G Share Investor Return is final.

For the avoidance of doubt the result of the 101% geared call option is that for every 1% Final Index Growth, the Investor Return will increase by £0.0101.  

Index means the FTSE-100 Index.

95G Shares

Holders of 95G Shares shall not be entitled to any dividends but shall receive an amount per Share on the Class Fund Termination Date (30 April 2010) calculated as the greater of:

(i)     £1.00 + (£1.00 x 50% x (Final Index Growth); and

(ii)    £1.22.

Where 'Final Index Growth' means: (Final Index Level - Initial Index Level)/Initial Index Level, rounded to the nearest £0.0001 per 95G Share.

The Investment Manager will determine the Final Index Level, which will be the arithmetic average of the Index levels at the Valuation Time on each Index Business Day during the Final Valuation Period. The Company's determination of the 95G Share Investor Returns is final.

Index means the FTSE-100 Index.

The company was established with the investment objective of generating income for the Income Shares and Capital Growth for the Growth Shares contained under Census 21, as described in the Registration Document and .Securities Note ("the Prospectus" and "the Supplement ").

In order to achieve the investment objective all of the Net Proceeds of the Offering were invested in the Abbey National Equity-Linked Deposits.

Please find the details of the Initial Index Levels and any Safety Zones levels in the table below:

ESTX means the Dow Jones Euro STOXX 50. FTSE means the FT-SE 100 Index

HPI means the Halifax UK national, all buyers, non seasonally adjusted House Price Index

EXPIRED means the Share Class has expired - please refer to the relevant final payout document for calculation of returns

^ means the level of the Index in respect of July 2002, which was published during August 2002

* means the event has not occurred to date

N/A means not applicable to Share Class

# means the Share Class is subject to an averaging period to calculate returns - please refer to the relevant table in the Investment Manager's report  

^^ means the level of the Index on 30 December 2003, which was published during January 2004

** means the event has occurred - please refer to the relevant final payout document for calculation of returns

Index Performance

By the Index we mean the FT-SE 100 Index, Dow Jones EuroStoxx50 Index and the Halifax UK national, all buyers, non-seasonally adjusted House Price Index.

Under the observed period, the starting level of the FT-SE 100 Index was 3926.14 as at the close of trading on 31st March 2009 and the closing level on 30th September 2009 was 5,133.90. Within this period, a closing level low of 3925.52 was recorded on 8th April 2009 and a high of 5172.89 reached on 18th September 2009. Growth for the FTSE100 Index was 31.78% on the basis of 31st March 2009 and 30th September 2009 closing levels.

The starting level of the Dow Jones EuroStoxx50 Index was 2071.13 as at the close of trading on 31st March 2009 and the closing level on 30th September 2009 was 2,872.63. A closing level low of 2071.13 was recorded on 31st March 2009 and a high of 2899.12 reached on 28th September 2009. Growth for the Dow Jones EuroStoxx50 Index was 38.7% on the basis of 31st March 2009 and 30th September 2009 closing levels.

The starting level of the Halifax UK national, all buyers, non-seasonally adjusted House Price Index was 508.3 (the Index level for March 2009 published during April 2009) and the closing level as published during October 2009 (the Index level for September 2009) was 533.5. Growth for the Halifax UK national, all buyers, non-seasonally adjusted House Price 50 Index was 4.96% on the basis of March 2009 and September 2009 closing levels. 

Share Class Performance

Please find the details of the Initial Index Levels and details of any Safety Zone levels and Early Windfall Dates in the table attached. 

Calculated growth on the Share Classes that are subject to multiple Initial Index Levels and Final Index Levels are detailed as follows:

  

6G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	10/03/2003	09/04/2003	5.0000	-5.0000	3777.30	3702.83	-1.9715	-1.9715
Period 2	10/09/2003	09/10/2003	5.0000	-5.0000	3803.30	4236.96	11.4022	5.0000
Period 3	10/03/2004	08/04/2004	5.0000	-5.0000	4311.00	4420.83	2.5477	2.5477
Period 4	10/09/2004	08/10/2004	5.0000	-5.0000	4515.80	4604.35	1.9609	1.9609
Period 5	10/03/2005	08/04/2005	5.0000	-5.0000	4685.50	4939.09	5.4122	5.0000
Period 6	12/09/2005	07/10/2005	5.0000	-5.0000	4973.20	5418.83	8.9606	5.0000
Period 7	10/03/2006	07/04/2006	5.0000	-5.0000	5374.50	5989.41	11.4413	5.0000
Period 8	11/09/2006	09/10/2006	5.0000	-5.0000	6067.00	5911.05	-2.5705	-2.5705
Period 9	12/03/2007	05/04/2007	5.0000	-5.0000	6072.70	6258.44	3.0586	3.0586
Period 10	10/09/2007	08/10/2007	5.0000	-5.0000	6417.80	6412.45	-0.0834	-0.0834

Growth for Share Class 6G to date is 22.9418%

12G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	27/02/2003	26/03/2003	5.0000	-5.0000	3907.20	3628.53	-7.1322	-5.0000
Period 2	27/08/2003	26/09/2003	5.0000	-5.0000	3729.10	4239.16	13.6778	5.0000
Period 3	27/02/2004	26/03/2004	5.0000	-5.0000	4142.7	4455.30	7.5458	5.0000
Period 4	27/08/2004	24/09/2004	5.0000	-5.0000	4406.70	4550.91	3.2725	3.2725
Period 5	28/02/2005	24/03/2005	5.0000	-5.0000	4541.20	4971.22	9.4693	5.0000
Period 6	30/08/2005	26/09/2005	5.0000	-5.0000	4919.00	5364.56	9.0579	5.0000
Period 7	27/02/2006	24/03/2006	5.0000	-5.0000	5447.30	5920.66	8.6898	5.0000
Period 8	29/08/2006	26/09/2006	5.0000	-5.0000	5972.20	5889.50	-1.3847	-1.3847
Period 9	27/02/2007	26/03/2007	5.0000	-5.0000	5930.10	6189.56	4.3753	4.3753
Period 10	28/08/2007	26/09/2007	5.0000	-5.0000	6292.60	6304.49	0.1890	0.1890
Period 11	27/02/2008	26/03/2008	5.0000	-5.0000	6486.40	5719.11	-11.8292	-5.0000

Growth for Share Class 12G to date is 21.4521%.

15G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	15/04/2003	15/05/2003	5.0000	-5.0000	4091.60	3940.61	-3.69024	-3.69024
Period 2	16/10/2003	14/11/2003	5.0000	-5.0000	4,049.00	4319.19	6.673006	5.0000
Period 3	15/04/2004	14/05/2004	5.0000	-5.0000	4,338.90	4514.80	4.054023	4.054023
Period 4	18/10/2004	15/11/2004	5.0000	-5.0000	4,403.00	4679.63	6.282762	5.0000
Period 5	15/04/2005	13/05/2005	5.0000	-5.0000	4,770.40	4858.98	1.856867	1.856867
Period 6	17/10/2005	15/11/2005	5.0000	-5.0000	4,884.20	5321.52	8.953769	5.0000
Period 7	18/04/2006	15/05/2006	5.0000	-5.0000	5,430.00	6052.26	11.45967	5.0000
Period 8	16/10/2006	15/11/2006	5.0000	-5.0000	5,846.20	6178.80	5.689166	5.0000
Period 9	16/04/2007	15/05/2007	5.0000	-5.0000	6,254.90	6498.03	3.887033	3.887033
Period 10	16/10/2007	15/11/2007	5.0000	-5.0000	6,559.50	6514.16	-0.69121	-0.69121
Period 11	15/04/2008	15/05/2008	5.0000	-5.0000	6,291.20	6123.88	-2.65963	-2.65963

Growth for Share Class 15G to date is 27.75684%.

18Q/A/G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	29/04/2003	29/05/2003	5.0000	-5.0000	4169.40	3979.71	-4.5496	-4.5496
Period 2	29/10/2003	28/11/2003	5.0000	-5.0000	4048.10	4340.99	7.2352	5.0000
Period 3	29/04/2004	28/05/2004	5.0000	-5.0000	4410.00	4457.99	1.0882	1.0882
Period 4	29/10/2004	29/11/2004	5.0000	-5.0000	4422.70	4740.57	7.1872	5.0000
Period 5	29/04/2005	27/05/2005	5.0000	-5.0000	4703.20	4920.80	4.6266	4.6266
Period 6	31/10/2005	29/11/2005	5.0000	-5.0000	4964.00	5453.38	9.8586	5.0000
Period 7	02/05/2006	26/05/2006	5.0000	-5.0000	5423.20	5862.64	8.1030	5.0000
Period 8	30/10/2006	29/11/2006	5.0000	-5.0000	5652.00	6169.47	9.1555	5.0000
Period 9	30/04/2007	29/05/2007	5.0000	-5.0000	6048.80	6559.53	8.4435	5.0000
Period 10	29/10/2007	29/11/2007	5.0000	-5.0000	6602.10	6366.95	-3.5617	-3.5617
Period 11	29/04/2008	29/05/2008	5.0000	-5.0000	6,432.50	6184.148	-3.8609	3.8609

Growth for Share Class 18Q/A/G to date is 23.7426%.

21Q/A/G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	24/06/2003	24/07/2003	4.0000	-4.0000	3603.70	4059.73	12.6545	4.0000
Period 2	29/12/2003	23/01/2004	4.0000	-4.0000	4131.20	4480.63	8.4583	4.0000
Period 3	24/06/2004	23/07/2004	4.0000	-4.0000	4445.50	4394.18	-1.1544	-1.1544
Period 4	29/12/2004	24/01/2005	4.0000	-4.0000	4287.00	4820.05	12.4341	4.0000
Period 5	24/06/2005	22/07/2005	4.0000	-4.0000	4843.20	5184.81	7.0534	4.0000
Period 6	28/12/2005	24/01/2006	4.0000	-4.0000	5270.70	5691.18	7.9777	4.0000
Period 7	26/06/2006	24/07/2006	4.0000	-4.0000	5704.40	5789.67	1.4948	1.4948
Period 8	27/12/2006	24/01/2007	4.0000	-4.0000	5851.20	6238.69	6.6224	4.0000
Period 9	25/06/2007	24/07/2007	4.0000	-4.0000	6269.30	6624.04	5.6584	4.0000
Period 10	27/12/2007	24/01/2008	4.0000	-4.0000	6454.30	6126.35	-5.08	-4.0000
Period 11	24/06/2008	24/07/2008	4.0000	-4.0000	5869	5425.56	-7.5557	-4.0000

Growth for Share Class 21Q/A/G to date is 20.3404%.

24G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	24/06/2003	24/07/2003	5.0000	-5.0000	3603.70	4059.73	12.6545	5.0000
Period 2	29/12/2003	23/01/2004	5.0000	-5.0000	4131.20	4480.63	8.4583	5.0000
Period 3	24/06/2004	23/07/2004	5.0000	-5.0000	4445.50	4394.18	-1.1544	-1.1544
Period 4	29/12/2004	24/01/2005	5.0000	-5.0000	4287.00	4820.05	12.4341	5.0000
Period 5	24/06/2005	22/07/2005	5.0000	-5.0000	4843.20	5184.81	7.0534	5.0000
Period 6	28/12/2005	24/01/2006	5.0000	-5.0000	5270.70	5691.18	7.9777	5.0000
Period 7	26/06/2006	24/07/2006	5.0000	-5.0000	5704.40	5789.67	1.4948	1.4948
Period 8	27/12/2006	24/01/2007	5.0000	-5.0000	5851.20	6238.69	6.6224	5.0000
Period 9	25/06/2007	24/07/2007	5.0000	-5.0000	6269.30	6624.04	5.6584	5.0000
Period 10	27/12/2007	24/01/2008	5.0000	-5.0000	6454.30	6126.35	-5.0812	-5.0000
Period 11	24/06/2008	24/07/2008	5.0000	-5.0000	5,869.00	5425.56	-0.0756	-0.0756
Period 12	29/12/2008	23/01/2009	5.0000	-5.0000	5352.63	4310.69	-19.47	-5

Growth for Share Class 24G to date is 25.2648%.

32G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	15/08/2003	12/09/2003	5.0000	-5.0000	3601.80	4232.25	17.5037	5.0000
Period 2	13/02/2004	12/03/2004	5.0000	-5.0000	4260.90	4502.57	5.6718	5.0000
Period 3	16/08/2004	14/09/2004	5.0000	-5.0000	4412.90	4470.00	1.2939	1.2939
Period 4	14/02/2005	14/03/2005	5.0000	-5.0000	4548.40	5014.09	10.2385	5.0000
Period 5	15/08/2005	14/09/2005	5.0000	-5.0000	5000.20	5315.92	6.3141	5.0000
Period 6	13/02/2006	14/03/2006	5.0000	-5.0000	5383.50	5853.66	8.7334	5.0000
Period 7	18/08/2006	14/09/2006	5.0000	-5.0000	5965.10	5902.76	-1.0451	-1.0451
Period 8	12/02/2007	14/03/2007	5.0000	-5.0000	5877.00	6276.17	6.7921	5.0000
Period 9	15/08/2007	14/09/2007	5.0000	-5.0000	6133.20	6200.06	1.0901	1.0901
Period 10	13/02/2008	14/03/2008	5.0000	-5.0000	6182.80	5848.45	-5.4077	-5
Period 11	15/08/2008	12/09/2008	5.0000	-5.0000	5,414.40	5449.94	0.6667	0.6667
Period 12	12/02/2009	13/03/2009	5.0000	-5.0000	5204.20	3818.11	-26.6341	-5

Growth for Share Class 32G to date is 22.0056%.

42G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	14/10/2003	13/11/2003	4.1000	-4.1000	3975.00	4318.61	8.6443	4.1000
Period 2	14/04/2004	13/05/2004	4.1000	-4.1000	4397.00	4516.87	2.7262	2.7262
Period 3	14/10/2004	12/11/2004	4.1000	-4.1000	4441.80	4669.15	5.1184	4.1000
Period 4	14/04/2005	13/05/2005	4.1000	-4.1000	4803.10	4863.10	1.2492	1.2492
Period 5	14/10/2005	11/11/2005	4.1000	-4.1000	4884.20	5306.61	8.6485	4.1000
Period 6	18/04/2006	12/05/2006	4.1000	-4.1000	5470.00	6063.98	10.8589	4.1000
Period 7	16/10/2006	13/11/2006	4.1000	-4.1000	5841.30	6176.00	5.7299	4.1000
Period 8	16/04/2007	11/05/2007	4.1000	-4.1000	6186.60	6491.29	4.9250	4.1000
Period 9	15/10/2007	13/11/2007	4.1000	-4.1000	6555.50	6530.84	-0.3762	-0.3762
Period 10	14/04/2008	13/05/2008	4.1000	-4.1000	6,432.10	6099.48	-5.1712	-4.1
Period 11	14/10/2008	12/11/2008	4.1000	-4.1000	6,216.00	4213.49	-32.2155	-4.1

Growth for Share Class 42G to date is 19.9992%.

44G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	09/10/2003	07/11/2003	4.1660	-4.1660	3969.40	4312.92	8.6542	4.1660
Period 2	13/04/2004	07/05/2004	4.1660	-4.1660	4376.90	4536.31	3.6421	3.6421
Period 3	11/10/2004	09/11/2004	4.1660	-4.1660	4498.40	4653.83	3.4552	3.4552
Period 4	11/04/2005	09/05/2005	4.1660	-4.1660	4717.70	4872.89	3.2895	3.2895
Period 5	10/10/2005	09/11/2005	4.1660	-4.1660	4910.30	5300.56	7.9478	4.1660
Period 6	10/04/2006	09/05/2006	4.1660	-4.1660	5439.80	6064.62	11.4861	4.1660
Period 7	09/10/2006	09/11/2006	4.1660	-4.1660	6105.60	6156.22	0.8291	0.8291
Period 8	10/04/2007	09/05/2007	4.1660	-4.1660	6231.50	6474.03	3.8920	3.8920
Period 9	09/10/2007	09/11/2007	4.1660	-4.1660	6549.60	6570.08	0.3127	0.3127
Period 10	09/04/2008	09/05/2008	4.1660	-4.1660	6,304.90	6068.23	-3.7537	-3.7537
Period 11	09/10/2008	07/11/2008	4.1660	-4.1660	6,204.70	4198.49	-32.3337	-4.1660
Period 12	09/04/2009	08/05/2009	4.1660	-4.1660	4,364.96	4147.59	-4.98	-4.98

Growth for Share Class 44G to date is 15.0189%.

  

52G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	27/11/2003	23/12/2003	4.1667	-4.1667	4067.80	4373.33	7.5109	4.1667
Period 2	27/05/2004	25/06/2004	4.1667	-4.1667	4440.90	4472.01	0.7005	0.7005
Period 3	29/11/2004	23/12/2004	4.1667	-4.1667	4494.10	4730.24	5.2544	4.1667
Period 4	27/05/2005	27/06/2005	4.1667	-4.1667	4787.70	5035.44	5.1745	4.1667
Period 5	28/11/2005	23/12/2005	4.1667	-4.1667	5043.50	5519.01	9.4282	4.1667
Period 6	30/05/2006	27/06/2006	4.1667	-4.1667	5622.80	5655.69	0.5849	0.5849
Period 7	27/11/2006	27/12/2006	4.1667	-4.1667	5652.30	6140.86	8.6436	4.1667
Period 8	29/05/2007	27/06/2007	4.1667	-4.1667	6245.20	6603.83	5.7425	4.1667
Period 9	27/11/2007	27/12/2007	4.1667	-4.1667	6527.60	6400.35	-1.9494	-1.9494
Period 10	27/05/2008	27/06/2008	4.1667	-4.1667	6,497.80	5831.98	-10.2469	-4.1667
Period 11	27/11/2008	23/12/2008	4.1667	-4.1667	5529.90	4254.56	-23.0627	-4.1667
Period 12	27/05/2009	26/06/2009	4.1667	-4.1667	4,255.98	4363.56	2.5277	2.5277

Growth for Share Class 52G to date is 18.5305%

53G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	23/12/2003	22/01/2004	4.5500	-4.5500	4086.50	4479.53	9.6178	4.5500
Period 2	23/06/2004	22/07/2004	4.5500	-4.5500	4460.80	4401.47	-1.3300	-1.3300
Period 3	23/12/2004	21/01/2005	4.5500	-4.5500	4326.30	4818.59	11.3790	4.5500
Period 4	23/06/2005	22/07/2005	4.5500	-4.5500	4812.50	5181.61	7.6698	4.5500
Period 5	23/12/2005	20/01/2006	4.5500	-4.5500	5270.70	5696.66	8.0817	4.5500
Period 6	23/06/2006	21/07/2006	4.5500	-4.5500	5660.90	5782.92	2.1555	2.1555
Period 7	27/12/2006	22/01/2007	4.5500	-4.5500	5833.90	6234.87	6.8731	4.5500
Period 8	25/06/2007	20/07/2007	4.5500	-4.5500	6227.60	6630.29	6.4662	4.5500
Period 9	27/12/2007	22/01/2008	4.5500	-4.5500	6624.40	6171.5	-6.8368	-4.5500
Period 10	23/06/2008	22/07/2008	4.5500	-4.5500	5,609.30	5438.31	-3.0484	-3.0484
Period 11	23/12/2008	21/01/2009	4.5500	-4.5500	5449.90	4337.86	-20.4047	-4.55

Growth for Share Class 53G to date is 15.9771%.

62G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	15/01/2004	13/02/2004	4.1667	-4.1667	4247.30	4434.35	4.4040	4.1667
Period 2	15/07/2004	13/08/2004	4.1667	-4.1667	4412.00	4352.82	-1.3413	-1.3413
Period 3	17/01/2005	15/02/2005	4.1667	-4.1667	4301.50	4905.32	14.0374	4.1667
Period 4	15/07/2005	15/08/2005	4.1667	-4.1667	5058.90	5290.14	4.5710	4.1667
Period 5	16/01/2006	15/02/2006	4.1667	-4.1667	5344.20	5739.99	7.4060	4.1667
Period 6	17/07/2006	15/08/2006	4.1667	-4.1667	5791.50	5841.21	0.8583	0.8583
Period 7	15/01/2007	15/02/2007	4.1667	-4.1667	5897.90	6292.50	6.6905	4.1667
Period 8	16/07/2007	15/08/2007	4.1667	-4.1667	6433.30	6356.85	-1.1883	-1.1883
Period 9	15/01/2008	15/02/2008	4.1667	-4.1667	6109.30	5846.16	-4.3072	-4.1667
Period 10	15/07/2008	15/08/2008	4.1667	-4.1667	5,787.60	5393.42	-6.8108	-4.1667
Period 11	15/01/2009	16/02/2009	4.1667	-4.1667	5454.80	4174.49	-23.5263	-4.1667
Period 12	15/07/2009	14/08/2009	4.1667	-4.1667	4,134.75	4589.44	10.1	4.1667

Growth for Share Class 62G to date is 10.8288%.

  

63G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	22/03/2004	21/04/2004	3.6500	-3.6500	4285.60	4446.92	3.7642	3.6500
Period 2	22/09/2004	21/10/2004	3.6500	-3.6500	4571.80	4631.56	1.3071	1.3071
Period 3	22/03/2005	21/04/2005	3.6500	-3.6500	4615.40	4913.69	6.4629	3.6500
Period 4	22/09/2005	21/10/2005	3.6500	-3.6500	4849.30	5362.31	10.5791	3.6500
Period 5	22/03/2006	21/04/2006	3.6500	-3.6500	5207.60	6023.21	15.6619	3.6500
Period 6	22/09/2006	20/10/2006	3.6500	-3.6500	6098.70	6020.09	-1.2890	-1.2890
Period 7	22/03/2007	20/04/2007	3.6500	-3.6500	6166.10	6384.28	3.5384	3.5384
Period 8	24/09/2007	19/10/2007	3.6500	-3.6500	6479.70	6562.64	1.2800	1.2800
Period 9	25/03/2008	21/04/2008	3.6500	-3.6500	6,459.30	5889.65	-8.8191	-3.65
Period 10	22/09/2008	21/10/2008	3.6500	-3.6500	6,034.70	4602.7	-23.7295	-3.65
Period 11	23/03/2009	20/04/2009	3.6500	-3.6500	4,040.89	3963.96	-1.9039	-1.9039

Growth for Share Class 63G to date is 10.2366%.

66G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	03/03/2004	05/04/2004	4.1667	-4.1667	4274.00	4439.76	3.8783	3.8783
Period 2	03/09/2004	04/10/2004	4.1667	-4.1667	4480.70	4575.32	2.1117	2.1117
Period 3	03/03/2005	04/04/2005	4.1667	-4.1667	4681.80	4953.15	5.7958	4.1667
Period 4	05/09/2005	03/10/2005	4.1667	-4.1667	4896.70	5403.93	10.3586	4.1667
Period 5	03/03/2006	03/04/2006	4.1667	-4.1667	5501.50	5951.81	8.1852	4.1667
Period 6	04/09/2006	03/10/2006	4.1667	-4.1667	6024.30	5898.36	-2.0905	-2.0905
Period 7	05/03/2007	03/04/2007	4.1667	-4.1667	5937.10	6226.14	4.8684	4.1667
Period 8	03/09/2007	03/10/2007	4.1667	-4.1667	6366.10	6367.13	0.0162	0.0162
Period 9	03/03/2008	03/04/2008	4.1667	-4.1667	6535.20	5704.95	-12.7043	-4.1667
Period 10	03/09/2008	03/10/2008	4.1667	-4.1667	5891.30	5160.18	-12.4102	-4.1667
Period 11	03/03/2009	03/04/2009	4.1667	-4.1667	4,980.25	3800.39	-23.6907	-4.1667
Period 12	03/09/2009	02/10/2009	4.1667	-4.1667	4,029.67	*	*	*

Growth for Share Class 66G to date is 8.0824%.

73G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	16/06/2004	15/07/2004	4.5500	-4.5500	4487.90	4436.81	-1.1384	-1.1384
Period 2	16/12/2004	14/01/2005	4.5500	-4.5500	4339.20	4793.92	10.4794	4.5500
Period 3	16/06/2005	15/07/2005	4.5500	-4.5500	4846.70	5148.96	6.2364	4.5500
Period 4	16/12/2005	13/01/2006	4.5500	-4.5500	5214.20	5655.11	8.4559	4.5500
Period 5	16/06/2006	14/07/2006	4.5500	-4.5500	5740.20	5762.90	0.3955	0.3955
Period 6	18/12/2006	15/01/2007	4.5500	-4.5500	5701.00	6233.77	9.3452	4.5500
Period 7	18/06/2007	13/07/2007	4.5500	-4.5500	6215.70	6631.14	6.6837	4.5500
Period 8	17/12/2007	15/01/2008	4.5500	-4.5500	6697.70	6312.1625	-5.7562	-4.5500
Period 9	16/06/2008	15/07/2008	4.5500	-4.5500	5942.90	5536.53	-6.8379	-4.5500
Period 10	16/12/2008	15/01/2009	4.5500	-4.5500	5,150.60	4379.83	-14.9647	-4.5500
Period 11	16/06/2009	14/07/2009	4.5500	-4.5500	4,147.06	4749.42	14.5249	4.5500

Growth for Share Class 73G to date is 12.9071%.

76G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	21/04/2004	21/05/2004	4.0000	-4.0000	4319.00	4491.00	3.9824	3.9824
Period 2	21/10/2004	19/11/2004	4.0000	-4.0000	4431.40	4704.84	6.1705	4.0000
Period 3	21/04/2005	20/05/2005	4.0000	-4.0000	4760.80	4877.38	2.4487	2.4487
Period 4	21/10/2005	21/11/2005	4.0000	-4.0000	4971.80	5367.18	7.9525	4.0000
Period 5	21/04/2006	19/05/2006	4.0000	-4.0000	5497.90	5981.42	8.7946	4.0000
Period 6	23/10/2006	21/11/2006	4.0000	-4.0000	5657.40	6192.00	9.4496	4.0000
Period 7	23/04/2007	21/05/2007	4.0000	-4.0000	6202.60	6524.22	5.1852	4.0000
Period 8	22/10/2007	21/11/2007	4.0000	-4.0000	6636.80	6439.38	-2.9746	-2.9746
Period 9	21/04/2008	21/05/2008	4.0000	-4.0000	6,070.90	6172.99	1.6816	1.6816
Period 10	21/10/2008	21/11/2008	4.0000	-4.0000	6,198.10	4184.181	-32.4925	-4.0000

Growth for Share Class 76G to date is 21.1381%.

77G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	21/04/2004	21/05/2004	4.1667	-4.1667	4319.00	4491.00	3.9824	3.9824
Period 2	21/10/2004	19/11/2004	4.1667	-4.1667	4431.40	4704.84	6.1705	4.1667
Period 3	21/04/2005	20/05/2005	4.1667	-4.1667	4760.80	4877.38	2.4487	2.4487
Period 4	21/10/2005	21/11/2005	4.1667	-4.1667	4971.80	5367.18	7.9525	4.1667
Period 5	21/04/2006	19/05/2006	4.1667	-4.1667	5497.90	5981.42	8.7946	4.1667
Period 6	23/10/2006	21/11/2006	4.1667	-4.1667	5657.40	6192.00	9.4496	4.1667
Period 7	23/04/2007	21/05/2007	4.1667	-4.1667	6202.60	6524.22	5.1852	4.1667
Period 8	22/10/2007	21/11/2007	4.1667	-4.1667	6636.8	6439.38	-2.9746	-2.9746
Period 9	21/04/2008	21/05/2008	4.1667	-4.1667	6,070.90	6172.99	1.6816	1.6816
Period 10	21/10/2008	21/11/2008	4.1667	-4.1667	6,198.10	4,184.18	-32.4925	-4.1667
Period 11	21/04/2009	21/05/2009	4.1667	-4.1667	3,780.96	4289.64	-1.28	-1.28
Period 12	21/10/2009	20/11/2009	4.1667	-4.1667	4,345.47	*	*	*

Growth for Share Class 77G to date is 20.52%.

82G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	02/06/2004	02/07/2004	4.1667	-4.1667	4510.20	4475.33	-0.7731	-0.7731
Period 2	02/12/2004	30/12/2004	4.1667	-4.1667	4407.40	4740.32	7.5537	4.1667
Period 3	02/06/2005	01/07/2005	4.1667	-4.1667	4847.00	5057.12	4.3351	4.1667
Period 4	02/12/2005	29/12/2005	4.1667	-4.1667	5161.00	5543.79	7.4170	4.1667
Period 5	02/06/2006	30/06/2006	4.1667	-4.1667	5681.50	5664.16	-0.3052	-0.3052
Period 6	04/12/2006	02/01/2007	4.1667	-4.1667	5833.40	6184.61	6.0207	4.1667
Period 7	04/06/2007	02/07/2007	4.1667	-4.1667	6310.90	6593.86	4.4827	4.1667
Period 8	03/12/2007	02/01/2008	4.1667	-4.1667	6590.6	6,426.23	-2.49404	-2.4940403
Period 9	02/06/2008	02/07/2008	4.1667	-4.1667	6,416.70	5,749.99	-10.3902	-4.1667
Period 10	02/12/2008	02/01/2009	4.1667	-4.1667	5,426.30	4,291.10	-20.9204	-4.1667
Period 11	02/06/2009	02/07/2009	4.1667	-4.1667	4,561.79	4337.05	-4.9265	-4.1667
Period 12	02/12/2009	30/12/2009	4.1667	-4.1667	*	*	*	*

Growth for Share Class 82G to date is 4.7611%.

87G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	26/07/2004	24/08/2004	4.5500	-4.5500	4507.50	4364.57	-3.1709	-3.1709
Period 2	25/01/2005	24/02/2005	4.5500	-4.5500	4411.60	4966.68	12.5823	4.5500
Period 3	25/07/2005	24/08/2005	4.5500	-4.5500	5006.80	5310.81	6.0719	4.5500
Period 4	25/01/2006	24/02/2006	4.5500	-4.5500	5255.70	5792.23	10.2085	4.5500
Period 5	25/07/2006	24/08/2006	4.5500	-4.5500	5875.90	5881.25	0.0910	0.0910
Period 6	25/01/2007	23/02/2007	4.5500	-4.5500	5878.60	6342.90	7.8981	4.5500
Period 7	25/07/2007	24/08/2007	4.5500	-4.5500	6434.70	6201.57	-3.6230	-3.6230
Period 8	25/01/2008	22/02/2008	4.5500	-4.5500	6102.20	5,874.27	-3.7353	-3.7353
Period 9	25/07/2008	22/08/2008	4.5500	-4.5500	5,999.50	5,423.55	-9.6000	-4.5500
Period 10	26/01/2009	24/02/2009	4.5500	-4.5500	5,505.60	4,133.05	-24.9301	-4.5500
Period 11	27/07/2009	21/08/2009	4.5500	-4.5500	3,848.98	4676.66	21.50	4.5500

Growth for Share Class 87G to date is 3.2118%

92G	Averaging Period Start	Averaging Period End	Period Cap (%)	Period Floor (%)	Period Strike	Averaging Level	Un-Capped Growth (%)	Capped Growth (%)
Period 1	12/10/2004	11/11/2004	4.5500	-4.5500	4412.90	4661.31	5.6292	4.5500
Period 2	12/04/2005	11/05/2005	4.5500	-4.5500	4793.90	4869.16	1.5699	1.5699
Period 3	12/10/2005	11/11/2005	4.5500	-4.5500	4893.20	5306.36	8.4436	4.5500
Period 4	12/04/2006	11/05/2006	4.5500	-4.5500	5470.00	6066.83	10.9110	4.5500
Period 5	12/10/2006	10/11/2006	4.5500	-4.5500	5912.10	6171.84	4.3934	4.3934
Period 6	12/04/2007	11/05/2007	4.5500	-4.5500	6194.20	6486.35	4.7165	4.5500
Period 7	12/10/2007	09/11/2007	4.5500	-4.5500	6555.50	6557.57	0.0316	0.0316
Period 8	14/04/2008	09/05/2008	4.55	-4.55	6,337.90	6,087.19	-3.95573	-3.955735
Period 9	13/10/2008	11/11/2008	4.55	-4.55	6,220.60	4,216.89	-32.2109	-4.55
Period 10	14/04/2009	11/05/2009	4.55	-4.55	4,182.02	4171.37	-0.2547	-0.2547
Period 11	12/10/2009	10/11/2009	4.55	-4.55	4,425.54	*	*	*

Growth for Share Class 92G to date is 15.4345%.

Key for Tables

*	Event has not occurred as at 30 September 2009

It must be noted that the growth values calculated in each Share Class, displayed under the relevant tables, are not necessarily those used to calculate the capital return for Shareholders and are for indicative purposes only. Please refer to the Prospectus and Supplements for clarification.

For Class Fund Shares 60M, 60A, 60G, 61M, 61A and 61G, the Index is comprised of ten stocks as detailed in the table below. The Initial Valuation Date for each of the ten stocks, which comprise the Index, has been set as 29 August 2003. The Safety Zone Level has been set as 50% of the Initial Stock level for each Stock. The ten stocks are part of the FT-SE 100 Index. 

Initial Index Levels

Security Code	Name	Original Initial Index Level	Original Safety Zone Level	Current Initial Index Level	Current Safety Zone Level
AZN.L	AstraZeneca plc	2,430.00	1,215.00	2,430.00	1,215.00
BARC.L	Barclays Bank plc	460.00	230.00	460.00	230.00
BP.L	BP Amoco plc	429.00	214.50	429.00	214.50
GSK.L	GlaxoSmithKline plc	1,207.00	603.50	1,207.00	603.50
HBOS.L	HBOS plc	704.00	352.00	704.00	352.00
HSBA.L	HSBC Holdings plc	813.00	406.50	813.00	406.50
LLOY.L	Lloyds TSB Group plc	415.00	207.50	415.00	207.50
RBS.L	Royal Bank Of Scotland plc	1,574.00	787.00	524.67	262.33
SHEL.L	Shell Transport & Trading plc	396.50	198.25	1,379.9317	689.9658
VOD.L	Vodafone plc	115.75	57.875	115.75	57.875

Period Performance

Security Code	Starting Level at c.o.b. 31/03/09	Closing Level at c.o.b. 30/09/09	Growth
AZN.L	2,451.00	2804.00	14.40%
BARC.L	148.00	370.00	150.00%
BP.L	471.50	553.00	17.29%
GSK.L	1,087.50	1229.50	13.06%
HBOS.L
HSBA.L	395.00	716.00	81.27%
LLOY.L	70.70	103.70	46.68%
RBS.L	24.50	52.95	116.12%
RDSB.L	1,531.00	1736.00	13.39%
VOD.L	122.75	140.20	14.22%

  

For Class Fund Shares 67M, 67A, 67G, 68M, 68A and 68G the Index is comprised of ten stocks as detailed in the table below. The Initial Valuation Date for each of the ten stocks, which comprise the Index, has been set as 17 October 2003. The Safety Zone level has been set as 50% of the Initial Stock Level for each stock. The ten stocks are part of the FT-SE 100 Index.

Initial Index Levels

Security Code	Name	Original Initial Index Level	Original Safety Zone Level	Current Initial Index Level	Current Safety Zone Level
AZN.L	AstraZeneca plc	2,770.00	1,385.00	2,770.00	1,385.00
BARC.L	Barclays Bank plc	515.75	257.875	515.75	257.875
BP.L	BP Amoco plc	426.25	213.125	426.25	213.125
GSK.L	GlaxoSmithKline plc	1,282.00	641.00	1,282.00	641.00
HBOS.L	HBOS plc	736.00	368.00	736.00	368.00
HSBA.L	HSBC Holdings plc	847.50	423.75	847.50	423.75
LLOY.L	Lloyds TSB Group plc	422.25	211.25	422.25	211.25
RBS.L	Royal Bank Of Scotland plc	1,629.00	814.50	543.00	271.50
SHEL.L	Shell Transport & Trading plc	393.00	196.50	1,367.7507	683.8753
VOD.L	Vodafone plc	124.50	62.25	124.50	62.25

Events

With reference to the 91G Shares fund an Early Windfall Event occurred when, on 24 March 2006 (defined as the First Early Windfall Date in the Registration Document), the closing level of the FT-SE 100 Index was recorded at 6036.30. This was greater than the Initial Index Level of 4357.50; therefore the Investor Share Returns per Share shall be £1.16 payable on the applicable Class Fund Termination Date.

This means that the 91G Shares Fund has terminated. For more details of the calculation of returns, please refer to the relevant final payout document.

The 43G Shares fund terminated on 15 May 2006. The holders of 43G shares were not entitled to any dividends but received an amount per share calculated as £1.00 x (100% plus the Final Index Growth). The Final Index Growth was the sum of the Index Growths in each of the six Semi-annual periods. Furthermore, for each Semi-annual Period the Index Growth was subject to a maximum of 3.25% and a minimum of -3.25%. Therefore, in summary, the sum of the Index Growth of the six Semi-annual Periods was 16.98% (see table 1 below). The total amount payable in respect of the 43G Shares Investor Returns was £1.17 per £1.00

• Table 1    

Maximum return in any period			3.25%
Minimum return in any period			-3.25%
1st period locked in gain/loss			3.25%
2nd period locked in gain/loss			2.73%
3rd period locked in gain/loss			3.25%
4th period locked in gain/loss			1.25%
5th period locked in gain/loss			3.25%
6th period locked in gain/loss			3.25%
TOTAL INDEX GROWTH			16.98%

Events (continued)

The 54G Shares fund terminated on 24 July 2006. The holders of 54G shares were not entitled to any dividends but received an amount per share calculated as £1.00 x (100% plus the Final Index Growth). The Final Index Growth was the sum of the Index Growths in each of the six Semi-annual periods. Furthermore, for each Semi-annual Period the Index Growth was rounded to the nearest four decimal places and was subject to a maximum of 3.5% and a minimum of -3.5%. Therefore, in summary, the sum of the Index Growth of the six Semi-annual Periods was 14.88% (see table 2 below). The total amount payable in respect of the 43G Shares Investor Returns was £1.1488 per £1.00

Table 2

Maximum return in any period			3.50%
Minimum return in any period			-3.50%
1st period locked in gain/loss			3.50%
2nd period locked in gain/loss			-1.33%
3rd period locked in gain/loss			3.50%
4th period locked in gain/loss			3.50%
5th period locked in gain/loss			3.50%
6th period locked in gain/loss			2.21%
TOTAL INDEX GROWTH			14.88%

With reference to the 60M, 60A, 60G, 61M, 61A and 61G and the 67M, 67A, 67G, 68M, 68A and 68G shares, on 20 July 2005, the unification of Royal Dutch and Shell Transport to one parent company was completed. For each ordinary share of Shell Transport and Trading PLC (ISIN: GB0008034141), investors received 0.287333066 Royal Dutch Shell "B" shares (ISIN: GB00B03MM408) with dividend payments in Sterling.

Therefore the Initial Index Level for SHEL.L as illustrated in Initial Index Levels tables has been replaced by RDSB.L as illustrated in Period Performance Table. 

For reference purposes, with regards to the 60M, 60A, 60G, 61M, 61A and 61G shares, the new Initial Index Level has been calculated by dividing the original level of 396.50 by a factor of 0.287333066 thus producing a new level of1379.9317. 

The new Initial Index Level for the 67M, 67A, 67G, 68M, 68A and 68G shares has been calculated by dividing the original level of 393.00 a factor of 0.287333066 thus producing a new level of 1367.7507.

With reference to the 60M, 60A, 60G, 61M, 61A and 61G and the 67M, 67A, 67G, 68M, 68A and 68G shares, on 31st July 2006, Vodafone Group Plc arranged a return of capital and a share consolidation which saw shareholders receive seven new Vodafone Ordinary shares, and eight "B"shares redeemable at 15 pence per share, in respect of every eight Vodafone Ordinary $0.10 shares held. The intention of this share consolidation was to ensure that the market price of each new share immediately after the consolidation would be approximately the same as the market price before the consolidation.

Therefore, the Initial Index Level for Vodafone as illustrated in the tables above does not change.

The Final Valuation Date for the 11M, 11A and 11G Shares fund was defined as the lowest level of the Index at any Valuation Time during the Final Valuation Period. The Final Valuation Period was defined as each Index Business Day from 31 August 2006 to 27 September 2006 inclusive. Therefore the Final Index was calculated as 3,709.81.

In each case there was no Safety Zone Breach and the Final Index Level was above the Initial Index Level. The total amount payable in respect of the 11M and 11A Shares was an amount equal to 1.00 x Share Class Subscription Price. 

The return per 11M Share equals £1.00

The return per 11A Share equals £1.00

The total amount payable in respect of the 11G Shares was an amount equal to 1.32 x the 11G Share's Subscription Price.

The return per 11G share equals £1.32.

Events (continued)

The Final Index Level for the 5M, 5A and 5G Shares fund was defined as the lowest level of the Index at any Valuation Time during the Final Valuation Period. The Final Valuation Period was defined as each Index Business Day from 27 October 2006 to 7 December 2006 inclusive. Therefore the Final Index was calculated as 3,914.46.

  In each case there was no Safety Zone Breach and the Final Index Level was above the Initial Index Level. 

The total amount payable in respect of the 5M and 5A Shares was an amount equal to 1.00 x Share Class Subscription Price. 

The return per 5M Share equals £1.00

The return per 5A Share equals £1.00

The total amount payable in respect of the 5G Shares was an amount equal to 1.35 x the 5G Share's Subscription Price.

The return per 5G share equals £1.35.

The Final Index Level for the 10M, 10A and 10G Shares fund was defined as the closing level of the Index on the 29th November 2006. Therefore the Final Index was calculated as 4,023.09.

  In each case there was no Safety Zone Breach and the Final Index Level was above the Initial Index Level. 

The total amount payable in respect of the 10M and 10A Shares was an amount equal to 1.00 x Share Class Subscription Price. 

The return per 10M Share equals £1.00

The return per 10A Share equals £1.00

The total amount payable in respect of the 10G Shares was an amount equal to 1.32 x the 10G Share's Subscription Price.

The return per 10G share equals £1.32.

The Final Index Level for the 14M, 14A and 14G Shares fund was defined as the lowest level of the Index at any Valuation Time during the Final Valuation Period. The Final Valuation Period was defined as each Index Business Day from 5 January 2007 to 11 January 2007 inclusive and therefore the Final Index Level was calculated as 6,130.20  

  In each case there was no Safety Zone Breach and the Final Index Level was above the Initial Index Level. 

The total amount payable in respect of the 14M and 14A Shares was an amount equal to 1.00 x Share Class Subscription Price. 

The return per 14M Share equals £1.00

The return per 14A Share equals £1.00

The total amount payable in respect of the 14G Shares was an amount equal to 1.26 x the 14G Share's Subscription Price.

The return per 14G share equals £1.26.

The Final Index Level for the 19Q, 19A and 19G Shares fund was defined as the closing level of the Index on the 22nd March 2007. Therefore the Final Index was calculated as 6,318.00  

  In each case there was no Safety Zone Breach and the Final Index Level was above the Initial Index Level. 

The total amount payable in respect of the 19Q and 19A Shares was an amount equal to 1.00 x Share Class Subscription Price. 

The return per 19Q Share equals £1.00

The return per 19A Share equals £1.00

The total amount payable in respect of the 19G Shares was an amount equal to 1.26 x the 19G Share's Subscription Price.

The return per 19G share equals £1.26.

With reference to the 74G Shares fund an Early Windfall Event occurred when, on 16 January 2007 (defined as the First Early Windfall Date in the Registration Document), the closing level of the FT-SE 100 Index was recorded at 6,215.70. This was greater than 130% of the Initial Index Level of 4,487.90; therefore the Investor Share Returns per Share shall be £1.30 payable on the applicable Class Fund Termination Date. 

This means that the 74G Shares Fund has terminated. For more details of the calculation of returns, please refer to the relevant final payout document.

   

With reference to the 88G Shares fund an Early Windfall Event occurred when, on 26 February 2007 (defined as the First Early Windfall Date in the Registration Document), the closing level of the FT-SE 100 Index was recorded at 6,434.70. This was greater than 130% of the Initial Index Level of 4,507.50; therefore the Investor Share Returns per Share shall be £1.30 payable on the applicable Class Fund Termination Date. 

Events (continued)

This means that the 88G Shares Fund has terminated. For more details of the calculation of returns, please refer to the relevant final payout document.

With reference to the 60M, 60A, 60G, 61M, 61A and 61G and the 67M, 67A, 67G, 68M, 68A and 68G shares, on Tuesday 8 May 2007, The Royal Bank Of Scotland plc adjusted the level of the price per share by issuing, by way of a bonus issue, two new ordinary shares for every one ordinary share held by shareholders.

For reference purposes, with regards to the 60M, 60A, 60G, 61M, 61A and 61G shares, the new Initial Index Level has been calculated by dividing the original level of 1,574.00 by a factor of 3 thus producing a new level of 524.67. 

The new Initial Index Level for the 67M, 67A, 67G, 68M, 68A and 68G shares has been calculated by dividing the original level of 1629.00 by a factor of 3 thus producing a new level of 543.00.

16. The Final Index Level for the 1H shares was defined as the arithmetic average of the Halifax UK national all houses, all buyers, non-seasonally adjusted House Price Index published each month from February 2007 to January 2008 inclusive. It was therefore calculated as 634.50. 

    The Initial Index Level of 366.60 was the level of the Index in respect of July 2002, published in August 2002.

Holders of Shares were not entitled to any dividends but received an amount per Share calculated as £1.00 x (Final Index Level/Initial Index Level) and therefore for every £1 invested in the 1H share class, a return of £1.74 was realised.

With respect to the 6G shares, holders of this share class were not entitled to any dividends. A growth amount was received by the holder on the 10th of October 2007 which was defined for each Pound (Sterling): £1.00 x (100% + Total Index Growth). The Total Index Growth was defined as the sum of the Index Growths of each of the Semi-Annual Periods (See Table 4 below). For each Semi Annual Period, the Index Growth was limited to a maximum of 5% and a minimum of -5%. It follows that the Total Index Growth, the sum of the Index Growths of the ten Semi-Annual periods was 22.95%. The deduced return for the 6G Shares Investor Returns was £1.23 per £1.00. 

Table 3:

Maximum return in any period			5.00%
Minimum return in any period			-5.00%
1st period locked in gain/loss			-1.97%
2nd period locked in gain/loss			5.00%
3rd period locked in gain/loss			2.55%
4th period locked in gain/loss			1.96%
5th period locked in gain/loss			5.00%
6th period locked in gain/loss			5.00%
7th period locked in gain/loss			5.00%
8th period locked in gain/loss			-2.57%
9th period locked in gain/loss			3.06%
10th period locked in gain/loss			-0.08%
TOTAL INDEX GROWTH			22.95%

With respect to the 8G shares, holders of these were not entitled to any dividends. Instead, a growth amount was received by the holder on 4th October 2007 defined as for each Pound (Sterling): £1.00 x (Final Index Level(FIL) / Initial Index Level(IIL)). The IIL, 3813.8 was observed on the 4th of October 2002 and the FIL was defined as the lowest level at any Valuation Time during the Final Valuation Period (the 5th of September 2007 to the 2nd of October 2007), 6123.10. So for each £1 invested in the 8G share class, the Investor Returns were £1.62. 

As for the 17G share class, there were no dividends, its holders received a growth amount on the 15th of November 2007 and was calculated in Pounds (Sterling): £1.00 x (Final Index Level (FIL)/Initial Index Level (IIL)). The IIL, 4091.60 was observed on the 15th of November 2002. The FIL was defined as the lowest index level, 6268.60 which was observed during the Final Valuation Period (17th October 2007 to 13th of November 2007). It follows that the 17G Shares Investor Return per Sterling Pound (£1.00) is £1.54. 

Events (continued)

The 22G share class did not entitle the share holder to dividend payments. Instead, a growth amount was received on the 28th of January 2008 and was calculated in Pounds (Sterling): £1.00x(Final Index Level (FIL)/Initial Index Level (IIL)). The IIL was the value observed on the 24th of January 2003, 3603.7 and the FIL was the lowest level observed in the period 18th of January 2008 and 24th of Jan 2008, 5338.70 which occurred on the 22nd of January 2008. Therefore, 22G Shares Investor Returns were £1.49 per £1.00. 

The Final Index Level for the 23A, 23G, 23Q Shares fund was defined as the closing level of the index on the 24 January 2008: 5875.8. 

In each case there was no Safety Zone Breach and the Final Index Level was above the Initial Index Level. With respect to the 23A Share Investor Return, a fixed amount of £0.07 was paid per year to the share holder on the 23rd of January for each year from 2004 to 2008 (inclusive) and the original capital return of £1 per 23A Share was paid on the 28th of January 2008. 

With respect to 23G, the Final Index Level (FIL) was 5875.8 and was observed on 24th of January 2008. The Initial Index Level was 3603.7 (IIL) which occurred on the 24th of January 2003. Since FIL x 0.5 was less than the IIL, the 23G Share Investor Return was defined as: £1.38 per £1.00.

With respect to the 23Q Share Investor Return, a fixed amount of £0.017 was paid per quarter to the share holder on from the 23rd of April 2003 until the 23rd of January 2008 (inclusive) and the original capital return of £1 per 23A Share was paid on the 28th of January 2008. 

With reference to the 81G Shares fund an Early Windfall Event occurred when, on the 5th of December 2007, the closing level of the FT-SE 100 Index was recorded at 6113.8. This was greater than 140% of the Initial Index Level of 4367; therefore the Investor Share Returns per Share shall be £1.40 payable on the applicable Class Fund Termination Date. 

This means that the 81G Shares Fund has terminated. For more details of the calculation of returns, please refer to the relevant final payout document.

The 96G entitled the holder to a growth amount on the 4th December 2007 calculated in Pounds (Sterling): £1.00 x (((Final Index Level/Initial Index Level-1)/2) + 100%). The Initial Index Level (IIL), 4454.4 was observed on the 4th of June 2004 and the Final Index Level (FIL), 6385.39 was calculated as the arithmetic average from observations taken 1st January 2006 to 30th November 2007. The growth amount exceeded the minimum return of 10% and hence the 96G Investor's Returns were: £1.22 per £1.00. 

On the 31st of July 2008, the 21A, 21Q, 21G products matured. Throughout the life of the product, the FTSE observed the following growth levels achieved in semi annual periods as documented in the table below:

Maximum return in any period			4.00%
Minimum return in any period			-4.00%
1st period locked in gain/loss			4.00%
2nd period locked in gain/loss			4.00%
3rd period locked in gain/loss			-1.15%
4th period locked in gain/loss			4.00%
5th period locked in gain/loss			4.00%
6th period locked in gain/loss			4.00%
7th period locked in gain/loss			1.49%
8th period locked in gain/loss			4.00%
9th period locked in gain/loss			4.00%
10th period locked in gain/loss			-4.00%
11th period locked in gain/loss			-4.00%
TOTAL INDEX GROWTH			20.34%

    

For 21Q, the holder received a quarterly dividend of £0.0095 per £1 invested. There were 22 quarterly distributions made every quarter from the effective date of the deal until maturity. On maturity, 31st July 2008 holders received £1.00 for each £1.00 invested. Those who held 21A shares were entitled to annual 4% dividends distributed as 4p per annum for £1 invested in this share class. On the 31st July 2008 £1 was returned for each £1 invested. The 21G product did not make any distributions to its investors, however a return of 22% was achieved as the sum of the FTSE 100 period growths (20.34% as shown above) was lower than the minimum return of 22% and so effectually, a return of £1.22 per £1.00 invested was returned to holders of the share on 31st July 2008.

On 30th of January 2009 holders of 24G Shares were entitled to a capital return defined as the sum of FTSE performance in the semi-annual periods as tabulated below. Investors did not receive any dividends throughout the life of this trade.  .  

Events (continued)

Maximum return in any period			5.00%
Minimum return in any period			-5.00%
1st period locked in gain/loss			5.00%
2nd period locked in gain/loss			5.00%
3rd period locked in gain/loss			-1.15%
4th period locked in gain/loss			5.00%
5th period locked in gain/loss			5.00%
6th period locked in gain/loss			5.00%
7th period locked in gain/loss			1.49%
8th period locked in gain/loss			5.00%
9th period locked in gain/loss			5.00%
10th period locked in gain/loss			-5.00%
11th period locked in gain/loss			-5.00%
12th period locked in gain/loss			-5.00%
TOTAL INDEX GROWTH			20.34%

The performance of 20.34% was returned to 24G investors, equivalent to 1.21 per £1 invested

The 30 M/A/G shares provided returns on a monthly/annual/maturity frequency respectively as follows. 

30 M shares provided monthly dividends of 0.46p per month up until maturity on 14th May 2008 when a return of £1 per share was received by 30M share holders. Similarly, the 30A shares provided fixed dividend distributions, however on an annual basis up until maturity when a final return of £1.00 per £1.00 invested was made to each share holder as the FTSE level did not fall below 50%*(initial Index level) between the dates of 17th of March 2003 and 12th of May 2008 nor was the final level below the initial level. 

The 30G shares did not entitle holders to a distribution of dividends, rather a growth amount on maturity equalling £1.35 per £1.00 invested as the index at no point fell below 50% of the initial level between the dates of 17 March 2003 to and including 12 May 2008 nor was the Final Index level below the initial level. 

31 M/A/G shares provided returns on a monthly/annual/maturity basis respectively as follows.

31 M Shares provided a final return on £1.00 per £1.00 invested on maturity as the FTSE100 did not fall below 60% its initial index level between the dates 21st March 2003 and 12th May 2008 nor was the final level below the initial index level. Prior to this, monthly distributions were made for a dividend amount of 0.64p per month for each £1.00 invested. As for the 31A shares, an for a value of 8p per £1.00 invested was returned per annum to share holders up until 14th May 2008 where a payment of £1.00 per £1.00 invested was returned to investors. 

The 31G shares did not entitle holders to a distribution of dividend, but instead a single capital growth amount equal to £1.5 per £1.00 invested as the FTSE100 did not fall below 60% its initial index level between the dates 21st March 2003 and 12th May 2008 nor was the final level below the initial index level.

With respect to the 32G share class, on the 20th of March 2009, holders in these shares were entitled to a final return of £1.22 per £1.00 invested and did not receive any dividends up 'til or thereafter that date. The final return was calculated as the sum of the FTSE performance achieved in the 12 semi annual periods as follows:

Events (continued)

Maximum return in any period			5.00%
Minimum return in any period			-5.00%
1st period locked in gain/loss			5.00%
2nd period locked in gain/loss			5.00%
3rd period locked in gain/loss			1.29%
4th period locked in gain/loss			5.00%
5th period locked in gain/loss			5.00%
6th period locked in gain/loss			5.00%
7th period locked in gain/loss			-1.05%
8th period locked in gain/loss			5.00%
9th period locked in gain/loss			1.09%
10th period locked in gain/loss			-5.00%
11th period locked in gain/loss			0.66%
12th period locked in gain/loss			-5.00%
TOTAL INDEX GROWTH			21.99%

33G shares provided holders with a final return of £1.40 per £1.00 invested on the 15th of September 2008 as the FTSE 100 Index closing level at no point fell below 50% of the initial level between the dates of 17th of March 2003 and 4th September 2008 and the final level did not fall below the initial level which was the closing FTSE100 level as recorded on the 14th of March 2003. 

The 34G shares provided a growth return on the on the 6th of October 2008 to a value of £1.46 per £1.00 invested. Where the performance of this return is calculated as £0.02* (Rounded to nearest £0.01P: (Final Index Level/Initial Index Level -1)) + £1.00 and so for a Final Index Level of 4,671.02 and an initial level of 3,814.40, this equated to 1.46p. 

The 35 M/A shares provided returns on a monthly/annual basis respectively as follows and a final return amount on the 7th of April 2008 as the index did not fall below 50 percent of the initial level on any business day falling between the 7th of April 2003 and the 4th of September 2008 nor was the final level under the initial level. Details of returns as follows:

35 M shares provided a monthly dividend of 0.54p per month up until maturity on 7rd April 2008 when a return of £1.00 per £1.00 invested by 35M share holders. Similarly, the 30A shares provided fixed dividend distributions of 7 pence per £1.00 on an annual basis up until maturity on the 7th of April 2008 when a final return of £1.00 per £1.00 invested was made to each share holder. 

The 36G shares provided a growth return on the on the 10th of November 2008 to a value of £1.00 per £1.00 invested as the Final Index Level fell below the Initial Index Level. The Final Index Level was calculated as the lowest level observed on any business day falling between the 8th of October 2008 and 7th November 2008 and the initial index level was the FTSE 100's closing level recorded on the 9th of May 2003. 

37 M/A shares provided returns on a monthly/annual/maturity basis respectively as follows.

37 M Shares provided a final return on £1.00 per £1.00 invested on maturity the 12th May 2008 as the FTSE100 did not fall below 50% its initial index level between the dates 12th May 2003 and 8th May 2008 nor was the final level below the initial index level. Prior to this, monthly distributions were made for a dividend amount of 0.54p per month for each £1.00 invested. As for the 37A shares, an for a value of 7p per £1.00 invested was returned per annum to share holders up until maturity where a payment of £1.00 per £1.00 invested was returned to investors. 

The 38G shares provided a capital return to its investors on the 6th of October 2008 to a value of £1.40 per £1.00 invested as the Final Level of the FTSE100 was greater than the Initial Index Level of the FTSE 100. The Final Index Level was calculated as the lowest level observed on any business day falling between the 26th of September 2008 and 2nd October 2008 and the initial index level was the recorded level of the FTSE 100 on the 4th April 2003.

For those who invested in the 39M/A/G share class were entitled to the returns outlined as follows. 

  Events (continued)

39 M Shares provided a final return on £1.00 per £1.00 invested on maturity the 9th  July 2008 as the FTSE100 did not fall below 50% its initial index level between the dates 12th May 2003 and 7th July 2008 nor was the final level below the initial index level. Prior to this, monthly distributions were made for a dividend amount of 0.47p per month for each £1.00 invested. As for the 39A shares, a value of 6p per £1.00 invested was returned per annum to share holders up maturity when a payment of £1.00 per £1.00 invested was returned to investors. 

The 39G shares did not entitle holders to a distribution of dividend, but instead a single capital return amount equal to £1.35 per £1.00 invested as the FTSE100 did not fall below 50% its initial index level between the dates 12th May 2003 and 7th July 2008 nor was the final level below the initial index level.

40 M and 40 A Shares provided a final return on £1.00 per £1.00 invested on maturity the 9th of July 2008 as the FTSE100 did not fall below 50% its initial index level between the dates 12th May 2003 and 7th July 2008 nor was the final level below the initial index level. Prior to this, for the 40 M Share class, monthly distributions were made for a dividend amount of 0.54p per month for each £1.00 invested. As for the 40A shares a value of 7p per £1.00 invested was returned per annum to share holders up until maturity. 

The 41G shares provided a capital return to its investors on the 27th of October 2008 for a value of £1.40 per £1.00 invested as the Final Level of the FTSE100 was greater than the Initial Index Level observed on 9th May 2003. The Final Index Level was calculated as the lowest level observed on any business day falling between the 21st of May 2003 and 21st October 2008.

With respect to the 42G share class, on the14th November 2008, holders in these shares were entitled to a final return of £1.20 per £1.00 invested and did not receive any dividends up 'til or thereafter that date. The final return was calculated as the sum of the FTSE performance achieved in the 11 semi annual periods as follows:

Maximum return in any period			4.10%
Minimum return in any period			-4.10%
1st period locked in gain/loss			4.10%
2nd period locked in gain/loss			2.73%
3rd period locked in gain/loss			4.10%
4th period locked in gain/loss			1.25%
5th period locked in gain/loss			4.10%
6th period locked in gain/loss			4.10%
7th period locked in gain/loss			4.10%
8th period locked in gain/loss			4.10%
9th period locked in gain/loss			-0.38%
10th period locked in gain/loss			-4.10%
11th period locked in gain/loss			-4.10%
TOTAL INDEX GROWTH			20.00%

Events (continued)

With respect to the 44G share class, on the 15th May 2006, holders in these shares were entitled to a capital return of £1.20 per £1.00 invested and did not receive any dividends up 'til or thereafter that date. The capital return was calculated as the greater number between 20% (20 pence per £1.00) and the sum of the FTSE performance achieved in the 12 semi annual periods, 15.57% (16 pence per £1.00) as follows:

Maximum return in any period			4.166%
Minimum return in any period			-4.166%
1st period locked in gain/loss			4.17%
2nd period locked in gain/loss			3.37%
3rd period locked in gain/loss			3.46%
4th period locked in gain/loss			3.29%
5th period locked in gain/loss			4.17%
6th period locked in gain/loss			4.17%
7th period locked in gain/loss			0.83%
8th period locked in gain/loss			3.89%
9th period locked in gain/loss			0.31%
10th period locked in gain/loss			-3.75%
11th period locked in gain/loss			-4.17%
12th period locked in gain/loss			-4.17%
TOTAL INDEX GROWTH			15.57%

The 45G share produced a capital return to its holders on the 29th September 2008 holders as the FTSE 100 did not fall below 60% of the Initial Level (3708.50) between the dates of 31st March 2003 to and including 28th August 2008 nor was the Final Level (5286.32) below the initial index level. Calculations for the capital return are as follows: The capital return was defined as the minor value of £2.00 and £1.00*(2.5*(Final Index Level/Initial Index Level - 1)). Subsequently holders in the 45G share received £2.00 per £1.00 invested. 

For the 46G share class, as the FTSE 100 did not fall below 50% of the Initial Level (4067.80) between the dates of 30th June 2003 to and including 24th December 2008 nor was the Final Level (5286.32) below the Initial Index Level - on the 29th December 2008 holders of these shares were entitled to a capital return of £1.40 per £1.00. 

47 M/A/G shares provided returns on a monthly/annual/maturity basis respectively as follows.

47 M and 47 A shares provided a final return of £1.00 per £1.00 invested on maturity, 23rd June 2008 as the FTSE100 did not fall below 60% its initial index level (4160.10) between the dates 21 July 2003 and 21 June 2008 nor was the final level (5708.40) below the initial index level. Prior to this, monthly distributions were made for a dividend amount of 0.64p per month for each £1.00 invested. As for the 47A shares, a value of 8p per £1.00 invested was returned per annum to share holders up until maturity.

For the 47G share class, as the FTSE100 did not fall below 60% its initial index level (4160.10) between the dates 21 July 2003 and 21 June 2008 nor was the final level (5708.40) below the initial index level - hence on the 29th December 2008 holders of these shares were entitled to a capital return of £1.40 per £1.00. 

48 M/A/G shares provided returns on a monthly/annual/maturity basis respectively as follows.

48 M and 48 A shares provided a final return of £1.00 per £1.00 invested on maturity, 23rd June 2008 as the FTSE100 did not fall below 60% its initial index level (4160.10) between the dates 21 June 2004 and 19 June 2008 nor was the final level (5708.40) below the initial index level. Prior to this, monthly distributions were made for a dividend amount of 0.5p per month for each £1.00 invested. As for the 48A shares, a value of 6.25p per £1.00 invested was returned per annum to share holders up until maturity.

For the 48G share class, as the FTSE100 did not fall below 60% its Initial Index Level (4160.10) between the dates 21 June 2004 and 19 June 2008 nor was the final level (5708.40) below the initial index level - hence on the 23rd June 2008 holders of these shares were entitled to a capital return of £1.50 per £1.00. 

Events (continued)

49 M and 49 A shares provided a final return of £1.00 per £1.00 invested on maturity, 19th May 2008 as the FTSE100 did not fall below 60% its initial index level (4049.00) between the dates 21st May 2003 and 15 May 2008 nor was the final level (6251.80) below the initial index level. Prior to this, monthly distributions were made for a dividend amount of 0.48p per month for each £1.00 invested. As for the 49A shares, a value of 6p per £1.00 invested was returned per annum to share holders up until maturity.

For the 49G share class, as the FTSE100 did not fall below 60% its initial index level (4049.00) between the dates 21st May 2003 and 15 May 2008 nor was the final level (6251.80) below the initial index level - hence on the 19th May 2008 holders of these shares were entitled to a capital return of £1.33 per £1.00. No dividend distributions were made to holders of the 49G shares.

For the 50G share class, as the FTSE 100 did not fall below 50% of the Initial Level (4134.10) between the dates of 15th June 2003 to and including 12th March 2009 however the Final Level (3712.06) finished below the Initial Index Level- hence on the 16th of March 2009 holders of these shares were entitled to a capital return of £1.00 per £1.00. No dividend distributions were made to holders of the 50G shares.

Holders of the 51G share class received a capital return calculated as the greater between: £1.00 + (£1.00 x 70% x (Final Index Growth) and £1.00. The Final Index Growth was calculated as the (arithmetic average of the FTSE100 closing levels from 13th March 2008 to 12th March 2009 (3712.06) Minus the Initial Index Level) divided by the Initial Index Level. This may be expressed more clearly as: (Final Index Level - Initial Index Level)/Initial Index Level where the initial index level was the level of the FTSE 100 observed on the 13th of June 2003 (4134.10). And hence the capital return was £1.00 per £1.00 paid on the 23rd of January 2009. No dividend distributions were made to holders of the 51G shares.

With respect to the 53G share class, on the 23rd January 2009, holders in these shares were entitled to a capital return of £1.1750 per £1.00 invested and did not receive any dividends up 'til or thereafter that date. The capital return was calculated as the greater number between 17.50%*£1.00 and the sum of the FTSE performance achieved in the 11 semi annual periods (15.98%*£1.00) as follows:

Maximum return in any period			4.55%
Minimum return in any period			-4.55%
1st period locked in gain/loss			4.55%
2nd period locked in gain/loss			-1.33%
3rd period locked in gain/loss			4.55%
4th period locked in gain/loss			4.55%
5th period locked in gain/loss			4.55%
6th period locked in gain/loss			2.16%
7th period locked in gain/loss			4.55%
8th period locked in gain/loss			4.55%
9th period locked in gain/loss			-4.55%
10th period locked in gain/loss			-3.05%
11th period locked in gain/loss			-4.55%
TOTAL INDEX GROWTH			15.98%

Holders of the 55G share class received no dividend distributions, however did receive a capital return on maturity, the 23rd of January 2009 defined as the greater of £1.00 and (80% x (Final Level - Initial Level)/Initial Level) x £1.00 + £1.00. The Final Level was calculated as the arithmetic average of the FTSE 100 over the dates from 22nd January 2008 to 21st of January 2009 (5270.68). The Initial Level was 4086.50 as observed on23rd of June 2003. Henceforth the capital return for each shareholder of the 55G share class was effectually £1.24 per £1.00 paid on maturity.

Events (continued)

Holders of the 56G share class received no dividend distributions, however did receive a capital return on maturity, the 23rd of January 2009 defined as the greater of ((Final Level - Initial Level)/Initial Level) x £1.00 + £1.00 and £0.85. The Final Level was calculated as the arithmetic average of the FTSE 100 over the dates from 22nd January 2008 to 21st of January 2009 (5270.68). The Initial Level was 4086.50 as observed on 23rd of June 2003. Henceforth the capital return for each shareholder of the 56G share class was effectually £1.29 per £1.00 paid on maturity.

57M and 57 A shares provided a final return of £1.00 per £1.00 invested on maturity, 29th August 2008 as the FTSE100 did not fall below 50% its initial index level (4067.80) between the dates 30th June 2003 and 27th August 2008 nor was the final level (5528.10) below the initial index level. Prior to this, monthly distributions were made for a dividend amount of 0.47p per month for each £1.00 invested. As for the 57A shares, a value of 6p per £1.00 invested was returned per annum to share holders up until maturity.

For the 57G share class as the FTSE100 did not fall below 50% its initial index level (4067.80) between the dates 30th June 2003 and 27th August 2008 nor was the final level (5528.10) below the initial index level - hence on the 29th August 2008 holders of 57G shares were entitled to a capital return of £1.35 per £1.00. No dividend distributions were made to holders of the 57G shares.

For the 69G share class as the FTSE100 on the 17th October 2008 finished below the Initial Index Level (4,344.00) as observed on the 17th of October 2003. It followed that on the 20th October 2008 holders of 69G shares were entitled to a capital return of £1.00 per £1.00. No dividend distributions were made to holders of the 69G shares.

70G shares did not entitle holders to dividends, however did provide a capital amount on maturity - 20th of October 2008 with an amount per £1.00 defined as follows. 70G Shareholders received £1.00 + £1.00 x ((Final Index Level - Initial Index Level) / Initial Index Level)*50%. The Final Index Level (5803.81) was calculated as the arithmetic average of FTSE100 closing business levels on each 21st day of each calendar month from 21st October 2003 o 21st of September 2004. The initial index level was the closing FTSE 100 level observed on the 17th of October 2003. Effectually holders of the 70G share received an amount equating to £1.1680 per £1.00 invested on maturity using the capital amount defined above. 

With respect to the 76G share class, on the 27th November 2008, holders in these shares were entitled to a capital return of £1.2116 per £1.00 invested and did not receive any dividends up 'til or after that date. The capital return was calculated as the greater number between 15.00%*£1.00 and the sum of the FTSE performance achieved in the 10 semi annual periods (21.16%*£1.00) as follows:

Maximum return in any period			4.00%
Minimum return in any period			-4.00%
1st period locked in gain/loss			3.98%
2nd period locked in gain/loss			4.00%
3rd period locked in gain/loss			2.47%
4th period locked in gain/loss			4.00%
5th period locked in gain/loss			4.00%
6th period locked in gain/loss			4.00%
7th period locked in gain/loss			4.00%
8th period locked in gain/loss			-2.97%
9th period locked in gain/loss			1.68%
10th period locked in gain/loss			-4.00%
TOTAL INDEX GROWTH			21.16%

78M shares provided a final return of £1.00 per £1.00 invested on maturity the 28th November 2008 as the FTSE100 did not fall below 50% its initial index level (4067.80) between the dates 30th June 2003 and 27th August 2008 although the final level (5528.10) fell below the initial index level. Prior to this, monthly distributions were made for a dividend amount of 0.42p per month for each £1.00 invested.

Events (continued)

With respect to the 52G share class, on the 6th July 2009, holders in these shares were entitled to a capital return of £1.20 per £1.00 invested and did not receive any dividends up 'til or after that date. The capital return was calculated as the greater number between 20.00%*£1.00 and the sum of the FTSE performance achieved in the 12 semi annual periods (18.53%*£1.00) as follows:

Maximum return in any period			4.17%
Minimum return in any period			-4.17%
1st period locked in gain/loss			4.17%
2nd period locked in gain/loss			0.70%
3rd period locked in gain/loss			4.17%
4th period locked in gain/loss			4.17%
5th period locked in gain/loss			4.17%
6th period locked in gain/loss			0.58%
7th period locked in gain/loss			4.17%
8th period locked in gain/loss			4.17%
9th period locked in gain/loss			-1.95%
10th period locked in gain/loss			-4.17%
11th period locked in gain/loss			-4.17%
12th period locked in gain/loss			2.53%
TOTAL INDEX GROWTH			18.53%

Investors in the 58G share class were received £1.00 for each £1.00 invested on the 18th of May 2009. No dividends were paid up until this time. The return was calculated as the greater of £1.00 and £1.00*(Final Level/ Initial Level -1) where the final level was the lowest FTSE100 COB level observed between 17th of April 2009 and 15th of May 2009 (3,897.25). The initial level was the FTSE100 closing level observed on 15th of August 2003 (4,247.30). 

Investors in the 59G share class were received £1.00 for each £1.00 invested on the 18th of May 2009. No dividends were paid up until this time. The return was calculated as the greater of £1.00 and £1.00*(Final Level/ Initial Level -1) where the final level was the lowest FTSE100 COB level observed between 17th of April 2009 and 15th of May 2009 (3,897.25). The initial level was the FTSE100 closing level observed on 15th of August 2003 (4,247.30).

With respect to the 63G share class, on the 22nd April, holders in these shares were entitled to a capital return of £1.15 per £1.00 invested and did not receive any dividends up 'til or after that date. The capital return was calculated as the greater number between 15.00%*£1.00 and the sum of the FTSE performance achieved in the 12 semi annual periods (10.23%*£1.00) as follows:

Maximum return in any period			4.17%
Minimum return in any period			-4.17%
1st period locked in gain/loss			3.65%
2nd period locked in gain/loss			1.31%
3rd period locked in gain/loss			3.65%
4th period locked in gain/loss			3.65%
5th period locked in gain/loss			3.65%
6th period locked in gain/loss			-1.29%
7th period locked in gain/loss			3.54%
8th period locked in gain/loss			1.28%
9th period locked in gain/loss			-3.65%
10th period locked in gain/loss			-3.65%
11th period locked in gain/loss			-1.90%
TOTAL INDEX GROWTH			10.23%

Events (continued)

Holders of the 64G Shares were entitled to a return of £1.00*(100% + 75 %*( Final Level/Initial Level - 1)) per £1.00 invested where Final Level was the arithmetic average of FTSE100 COB levels on each date from 21st April 2008 and 20th of April 2009 (4,812.25). The initial level was the FTSE100 COB level on 22nd of October 2003 (4,285.6). Henceforth investors in the 64G share class received £1.0922 per £1.00 invested on the cash settlement date on 22nd April 2009. 

Holders of the 65G Shares were entitled to a Capital Return of £1.2458 per £1.00 invested as the Final Level was greater than the Initial Level. This was calculated as 100% + 2*(Final Level/Initial Level-1) up to a maximum of 150%. Final Level was the arithmetic average of FTSE100 COB levels on each date from 21st April 2008 and 20th of April 2009 (4,812.25). The Initial Level was the FTSE100 COB level on 22nd of October 2003 (4,285.6). The Capital Return was paid to the investor on the 22nd of April 2009. 

Holders of 75G Shares were not entitled to dividends but were entitled to a capital return. As the Final Index Level was less than the Initial Index Level, this was calculated as £1.00 + £1.00*(Final Level/Initial Level -1). The Final Level was calculated as the daily average of FTSE100 COB levels from 15/07/2008 to 14/07/2009 (4438.54) and the Initial Level was the FTSE100 COB Level as at 16th January 2004 (4,487.9). Hence the capital return was £0.9890 paid on 16th of July 2009 for each £1.00 invested. 

Investors in the 79G Share class were not entitled to dividends, however were entitled to a capital payment defined as: £1.00 + the greater of £0.00 and £1.00*(the lesser of 2*(Final Level/Initial Level-1) and 180%). Final Level was the lowest FTSE100 COB level from the 14th of May 2009 to 16th of April 2009 (3897.25) and the Initial Level was the FTSE100 COB level on 14th of November 2003 (4397.00). Hence, holders of the 79G Share class received £1.00 per £1.00 invested on the 18th of May 2009.  

Those that invested in the 85G Share Class did not receive dividends. However, a capital return of £1.00 per £1.00 invested was made payable on the 2nd of July 2009 as the Final Level fell below the Initial Level. Final Level was defined as the average of each FTSE100 COB level from the 3rd of June 2009 to the 30th of June 2009 (4335.01) and the Initial Level was the FTSE100 COB level for 2nd of January 2004(4510.2). 

For those that invested in the 86G Share Class, dividends were not distributed. However, a capital return of £1.00 per £1.00 invested was made payable on the 2nd of July 2009 as the Final Level fell below the Initial Level. Final Level was defined as the average of each FTSE100 COB level from the 3rd of June 2009 to the 30th of June 2009 (4335.01) and the Initial Level was the FTSE100 COB level for 2nd of January 2004(4510.2). 

  

Events (continued)

A number of Share Classes have terminated to date as set out in Table 3.

Table 3

Share Class	Termination Date	Return per Share
1H	06/03/2008	£1.73
2M	20/09/2005	£1.00
2A	20/09/2005	£1.00
2G	20/09/2005	£1.27
3M	07/11/2005	£1.00
3A	07/11/2005	£1.00
3G	07/11/2005	£1.30
4M	24/11/2005	£1.00
4A	24/11/2005	£1.00
4G	24/11/2005	£1.33
5M	11/12/2006	£1.00
5A	11/12/2006	£1.00
5G	11/12/2006	£1.35
6G	10/10/2007	£1.23
7M	05/12/2005	£1.00
7A	05/12/2005	£1.00
7G	05/12/2005	£1.30
8G	04/10/2007	£1.62
10M	02/01/2007	£1.00
10A	02/01/2007	£1.00
10G	02/01/2007	£1.32
11M	27/09/2006	£1.00
11A	27/09/2006	£1.00
11G	27/09/2006	£1.32
12G	03/04/2008	£1.22
14M	15/01/2007	£1.00
14A	15/01/2007	£1.00
14G	15/01/2007	£1.26
19M	26/03/2007	£1.00
19A	26/03/2007	£1.00
19G	26/03/2007	£1.26
16M	16/01/2006	£1.00
16A	16/01/2006	£1.00
16G	16/01/2006	£1.30
17G	15/11/2007	£1.54
20Q	28/03/2006	£1.00
20A	28/03/2006	£1.00
20G	28/03/2006	£1.33
21Q	31/07/2008	£1.00
21A	31/07/2008	£1.00
21G	31/07/2008	£1.21
22G	28/01/2008	£1.49
23A	24/01/200/	£1.00
23Q	24/01/2008	£1.00
23G	24/01/2008	£1.38
24G	30/01/2009	£1.21
28A	16/02/2006	£1.00

Events (continued)

Table 3 (continued)

Share Class	Termination Date	Return per Share
28G	16/02/2006	£1.24
28Q	16/02/2006	£1.00
30M	14/05/2008	£1.00
30A	14/05/2008	£1.00
30G	14/05/2008	£1.35
31M	14/05/2008	£1.00
31A	14/05/2008	£1.00
31G	14/05/2008	£1.50
32G	29/03/2009	£1.22
33G	15/09/2008	£1.40
34G	06/10/2008	£1.46
35A	07/04/2008	£1.00
35M	07/04/2008	£1.00
36G	10/11/2008	£1.00