Aviva: Morley statement on DFS

Article date: 25 August 2004

Aviva plc confirms that its wholly owned subsidiary Morley FundManagement Limited yesterday sent the following text by fax toDeutsche Bank, advisers to DFS:

"Following our recent meeting with Mike Blackburn, we arepleased to confirm our voting intention at the shareholder meetingsconvened for 7 September 2004 in respect of the proposals by FullCircle Future Limited to acquire DFS as set out in the SchemeDocument dated 14 August 2004.

"It is our intention to vote against this proposed offer. Wehave previously expressed our view both to the executives andnon-executives that we would like to continue to support thecompany and retain our position in this excellent retailer. In thelight of this, we consider that the proposed offer isinadequate.

"The number of shares that we propose to vote against the offeris 6,853,479 shares, which we believe equates to a holding of6.37%."



Fiona Baker, Head of Corporate Communications, Morley FundManagement
Telephone: 07736 883832

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