Reconciliation of Group operating profit to retained profit for the period - IFRS basis

For the six months ended 30 June 2005

6 months 2005 €m		6 months 2005 £m	6 months 2004 £m	Full year 2004 £m

	IFRS operating profit before tax attributable to shareholders’ profits

739	Long term business	510	520	1,116
48	Fund management	33	17	40
1,006	General insurance and health	694	583	1,259
3 (120)	Other: Other operations Corporate costs	2 (83)	(35) (99)	(121) (188)
(309)	Unallocated interest charges	(213)	(205)	(437)
1,367	IFRS operating profit before tax attributable to shareholders’ profits	943	781	1,669

(14)	Impairment of goodwill	(10)	-	(41)
(65)	Amortisation and impairment of acquired value of in-force business	(44)	(35)	(85)
(23)	Amortisation and impairment of other intangibles	(16)	(2)	(7)
-	Financial Services Compensation Scheme and other levies	-	(25)	(49)
174	Short term fluctuation in return on investments backing general insurance and health business	120	(238)	161
210	Profit on the disposal of subsidiaries and associates	145	8	34
(20)	Integration costs	(14)	-	-
-	Exceptional costs for termination of operations	-	(40)	(40)
1,629	Profit before tax attributable to shareholders’ profits	1,124	449	1,642
	Tax attributable to shareholders’ profits
(371)	Operating profit	(256)	(245)	(319)
(74)	Other activities	(51)	65	48

1,184	Profit after tax attributable to shareholders	817	269	1,371

6 months 2005		6 months 2005	6 months 2004	Full year 2004

	Earnings per share – IFRS operating profit basis
39.3c	Basic (pence per share)	27.1p	21.8p	54.1p