Norwich European Equity Fund wins S&P award

Article date: 3 March 2003

The Norwich European Equity Fund has been awarded first place inthe Europe ex UK sector over five years at the Standard and Poor's(S&P) Awards 2003. The award was announced last Thursday andcollected by the fund manager, Gavin Corr of Morley Fund ManagementLimited (Morley).

The Standard and Poor's UK Investment Fund Performance Awards2003 are recognised globally as the standard by which investmentmanagers are measured.

The S&P 'A' rated £170m Norwich European Equity Fund hasachieved first quartile performance over 1, 3 and 5 years* and hasprovided a return of 11.05% over the last five years*. The Funduses Morley's bottom up, top down investment process with a provenpragmatic investment style.

Gavin Corr also manages the S&P 'A' rated specialist MorleyEuropean Focus Fund which was launched on 5 November 2001 and hassimilarly delivered strong out-performance.

Commenting on the award, Morley Fund Management's Gavin Corr,fund manager of the Norwich European Equity Fund, said: "We aredelighted to receive this award for the Norwich European EquityFund. The award recognises the excellent and consistent performancewhich the fund has achieved over the last five years. Going forwardwe are confident that our investment philosophy and process willensure that our European funds continue to out-perform."

Morley's successful European Equity team consists of fourdedicated fund managers, managing a total of £3.5 billion of assetsacross a range of funds including a specialist small cap fund. Inaddition, Morley's team of 25 research analysts and threestrategists and economists provide further investmentexpertise.

In addition, Norwich Union funds managed by Morley were awardedfirst place over five and 10 years in the UK Insurance FundsCategory (Smaller Group).

*to end of January 2003

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For Further information please contact:
Fiona Baker, Head of Corporate Communications 020 7809 8617 MorleyFund Management

Notes to editors

Morley Fund Management

Morley Fund Management Limited ('Morley') is an independentlymanaged, London based, asset management business with over £105billion under management (as at 31.12.02). It actively manages adiverse range of asset classes and has investment managementoperations in London, Tokyo and Singapore and an associate officein Boston*.

Morley is a wholly owned subsidiary of the Aviva Group andmanages both institutional and retail funds under the Morley brand.It also acts as investment manager for a range of retail investmentfunds, marketed in the UK by Norwich Union, and international fundsmarketed under the Privilege Portfolio brand.


Fund Manager of the Year - Pensions Week Awards 2002
Specialist Manager of the Year - UK Pensions Awards 2002
Insurance Fund Manager of the Year (awarded to Norwich Union) -Standard and Poor's 2002
Sustainable and Ethical Investment and Asset Management Award -Liveable City Awards 2002

*Norwich Union Investment Management, an Aviva Group company

Further information about Morley Fund Management can be found

Issued by Morley Fund Management Limited and Morley InvestmentServices Limited.

Morley Fund Management is a business name of Morley FundManagement Limited, registered in England No. 1151805 and MorleyInvestment Services Limited, registered in England No. 1973412.Both are members of the Norwich Union Marketing Group, members ofwhich are regulated in the UK by the Financial Services Authorityfor life assurance, pensions and investments. Morley InvestmentServices Limited is a member of the Investment ManagementAssociation. Registered Offices: No. 1 Poultry, London EC2R 8EJ.Both are Aviva companies.

For institutional correspondence please contact us at MorleyFund Management, No. 1 Poultry, London EC2R 8EJ, for retailcorrespondence please contact us at Morley Fund Management, PO Box6056, Basildon SS15 5UU.

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