Equities

Pan European Equities excluding UK

We provide coverage of Continental Europe through our pan-European team. The team has a thorough knowledge of the core 80-100 stocks in our working universe; ownership is also assigned for sub-regions (such as the Nordic countries or Iberia) and for sectors, though this matrix is changed frequently so that second-line stocks, which receive less attention from the market, receive our full attention too.

Composite Performance (%)

		Annualized
Figures to 31 December 2007 in EUR	3 months	1 Year	2 Years	3 Years	4 Years	5 Years
Aberdeen Europe Ex UK Equity Composite (Net)	-3.73	-2.39	9.04	13.58	13.82	-
FTSE World - Europe Ex UK	-2.09	6.16	14.04	18.47	17.15	-

Please see attached GIPS disclosure below. Past performance is not indicative of future results.

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GIPS Disclosures

^{Total Return, Net of Fees, USD

Source: Aberdeen Asset Management PLC & Russell Mellon.

Please note this information is supplemental to the composite.}

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UNITED STATES RESIDENTS

General

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