Independent review report to Aviva plc

Introduction

We have been engaged by the Company to review the half yearly alternative method of reporting long-term business for the six months ended 30 June 2008 which comprises the Summarised consolidated income statement – EEV basis, the consolidated statement of recognised income and expense – EEV basis, the Reconciliation of movements in consolidated shareholders’ equity – EEV basis, the Summarised consolidated balance sheet – EEV basis, Segmentation of summarised consolidated balance sheet – EEV basis and the related notes 1 to 12 and which should be read in conjunction with the condensed financial statements prepared on an IFRS basis.

We have reported separately on the condensed financial statements of Aviva plc for the six months ended 30 June 2008.

This report is made solely to the company in accordance with guidance contained in ISRE 2410 (UK and Ireland) "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Auditing Practices Board. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company, for our work, for this report, or for the conclusions we have formed.

Directors' responsibilities

The half yearly alternative method of reporting long-term business is the responsibility of, and has been approved by, the directors. The directors are responsible for preparing the half yearly alternative method of reporting long-term business in accordance with the European Embedded Value Principles published by the CFO Forum in May 2004 and the Additional Guidance on European Embedded Value Disclosures published by the CFO Forum in October 2005 (together “the EEV Principles”), as described on, and using the methodology and assumptions set out in the Basis of preparation – EEV basis.

Our responsibility

Our responsibility is to express to the Company a conclusion on the half yearly alternative method of reporting long-term business for the six months ended 30 June 2008 based on our review.

Scope of review

We conducted our review in accordance with ISRE 2410. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK and Ireland) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the half yearly alternative method of reporting long-term business for the six months ended 30 June 2008 is not prepared, in all material respects, in accordance with the EEV Principles, using the methodology and assumptions set out earlier in this report.

Ernst & Young LLP
London

29 July 2008