FGB's First Wealth links with Royal Skandia to offer customised investment plans

Notes and media contacts

Managed Savings and Pension account (MSPA), the Managed Capital Account (MCA)

The MSPA is a long-term regular savings account that requires a commitment to save a set amount each month for a selected term of 5 years or longer. The MCA is a single premium savings account which enables a lump sum of money to be invested at any time and does not require a set investment period.

Both these options have the benefit of offering flexible investment options which means they can cope with different attitudes to risk. This flexibility is possible because Royal Skandia provides access to over 200 funds. Through First Wealth adviser, a portfolio of funds can be chosen to suit an investor's risk appetite and this selection can be altered at any time.

Collective Investment Bond (CIB) and Executive Investment Bonds (EIB).

These are fully flexible open architecture platforms where clients can enjoy significant investment freedom by spreading their capital across a wide range of different funds and/or assets.

Both the CIB and EIB are whole of life lump sum investment policies, available on a single, joint or multiple lives assured last death basis with a death benefit of 101% of the surrender value of the bond.

The CIB can hold collective investment funds, including Skandia's own range of funds, with its significant investment freedom.

The EIB, with its extended investment powers, can hold not only all the collective investment funds and unit trusts as the CIB but also stocks, shares, some derivatives, or fixed interest securities.

Skandia International

Skandia International is a division established in 2006 to specialise in offshore cross-border products and services for the Old Mutual and Skandia group. It brings together a number of regulated offshore businesses with bases in a variety of jurisdictions, and builds on an exceptional offshore brand developed over 20 years.

Skandia International currently comprises: Royal Skandia, Skandia Life Ireland and Skandia Leben Liechtenstein (all of whom are offshore cross border manufacturers) and Old Mutual International. Skandia International is also responsible for Skandia Life sales to local nationals in Finland.

Royal Skandia is the Isle of Man-based offshore arm of the Skandia UK Group. A leading life company in the offshore investment market, Royal Skandia offers a range of tax-efficient investment products aimed mainly at expatriates and international investors.

The Skandia UK Group (of which Skandia International is part) launched in 1979 and is now one of the leading international long term savings groups providing pensions, investment and protection products through intermediaries in the UK and overseas. Creators of the MultiManager approach; Skandia has teamed up with the world's top fund managers to create a range of funds tailored for investors' individual needs.

Skandia UK is a division of the Skandia Group, itself owned by Old Mutual plc. Old Mutual is an international financial services group, listed on the London Stock Exchange where it is a FTSE 100® company, making it one of the largest 100 companies listed on the London Stock Exchange. Old Mutual is headquartered in London.

Being a part of Old Mutual makes Skandia a key division of the seventh largest life assurer in Europe, with a strong financial base. The combined group has a market capitalisation in excess of £9bn*, and funds under management in excess of £239bn**. The group has nearly 50,000 employees.

*As at 8 June 2006, Source: Bloomberg
**As at 31 December 2006, Source: Old Mutual

For further information please contact:
Maha Yassine, Head of Corporate Communications, First Gulf Bank
Tel: 00971 2 6920101