Key Financial Data

		30 April 2005	30 April 2006	30 April 2006	30 April 2007	30 April 2007	30 April 2008	30 April 2009
		UK GAAP	UK GAAP	IFRS	UK GAAP	IFRS	IFRS	IFRS
Embedded value	£'000	73,378	79,668	66,125	93,413	76,670	81,618	67,200
Net asset value	£'000	44,898	47,749	42,576	58,496	50,783	46,073	34,789
Investment portfolio	units	617	668	668	831	831	1,126	1,149
Emebedded value per share	pence	498.8	530.2	451.5	576.6	484.5	521.2	486.4
Net asset value per share	pence	331.5	344.6	314.6	384.7	342.3	322.4	251.8
Profit from sale of equity release assets	£'000	1,613	2,936	1,245	3,403	1,045	962	333
Earnings/(loss) per share	pence	-1.13	1.52	9.65	-3.86	33.6	-23.4	-80.1
Dividend per share	pence	2.50	2.70	2.70	2.90	2.90	3.15	1.58
Net cash flow generated (3)	£'000	2,025	3,901	3,901	3,397	3,397	2,596	2,521
Net cash flow generated per share (2)	pence	16.1	29.7	29.7	26.0	26.0	18.5	18.0
Share price	pence	302.5	337.5	337.5	387.5	387.5	232.5	104.9
Total shareholder return (4)		2.1%	12.5%	12.5%	15.7%	15.7%	-39.2%	-54.2%

Information relating to 2005-2006 is presented under UK GAAP as directed by IFRS 1.

1.	Embedded value represents net asset value adjusted to reflect equity release assets at their vacant possession value based on current property prices and includes deferred taxation.
2.	Per share calculations have been adjusted for the impact of the exercise of warrants and options, based on year-end positions in the case of asset-based calculations and on weighted averages in the case of earnings and net cash flow.
3.	Net cash flow generated is derived from the Group's Consolidated Cash Flow Statement and comprises a) net cash outflow before changes in working capital and provisions and b) the proceeds from sale of investment properties and shared equity loans.
4.	Total shareholder return measures the change in share price, plus dividends paid, divided by the share price at the end of the preceding financial year.