AVIVA REPORTING CHANGE

Aviva PLC
21 November 2003

                                                                21 November 2003


Reporting change to Aviva's year end 2003 statutory balance sheet


At the time of publishing its 2003 preliminary results on 25 February 2004,
Aviva Plc will report its statutory consolidated balance sheet based on MSSB
(modified statutory solvency basis) net assets.  In addition, Aviva will
continue to report a consolidated balance sheet on the achieved profits basis,
which includes MSSB net assets and AVIF (the additional value of in-force
business from long-term savings) because this provides a more realistic measure
of the economic value of the group.


The presentation of the statutory balance sheet on a MSSB basis reflects the
requirements of the recently issued ABI SORP (statement of recommended practice)
on accounting for insurance businesses and is in line with other major UK
insurers reporting on both bases.


The reporting change has no impact on the capital adequacy, the credit ratings
or the profitability of the group.


Total shareholders' funds under both bases for prior periods are as follows:-

                               Achieved profits shareholders'  MSSB shareholders' funds (£m)
                                         funds (£m)

30 June 2003                               10,419                          6,477

31 Dec 2002                                 9,669                          5,837

31 Dec 2001                                11,752                          6,484


Note


1. The difference between achieved profits shareholders' funds and the MSSB
shareholders' funds is the value of internally generated AVIF from the
long-term savings business, net of minority interests of £101m at 30 June 2003,
£85m at 31 December 2002 and £81m at 31 December 2001.

2. MSSB shareholders' funds has previously been reported as a note to the
audited financial statements.


Enquiries:


Analysts

Nic Nicandrou, Group Financial Reporting Director         [phone]


Media

Hayley Stimpson, Director of External Affairs             [phone]

Alex Child-Villiers, Financial Dynamics                   [phone]


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