SAR - McKay Securities plc

Aviva PLC
24 January 2005

                                                                      FORM SAR 5

Lodge with a RIS or Newstrack if appropriate and the Takeover Panel.

A copy must also be sent to the company the shares of which are being sold.

Date of disclosure

24 January 2005...............................................................

DISCLOSURE UNDER NOTE 3 OF RULE 5 OF THE RULES GOVERNING SUBSTANTIAL
ACQUISITIONS OF SHARES ('SARs')

Date of sale

21 January 2005...............................................................

Sale of (name of company)

MCKAY SECURITIES PLC............................................................
...

1. Class of voting shares (eg ordinary shares)

ORD GBP0.20...............................................................

Number of shares/rights over shares sold

595,000...............Shares..................0......Rights

If rights over shares sold, as opposed to the shares themselves, specify nature
of rights

...............................................................

2. Resultant total holding of voting shares (and % of total voting shares in
issue)

8,131,278..........         17.85%

Resultant total holding of rights over shares (and % of total voting shares in
issue)

..........         ..........%

Total percentage

17.85%

3. Party making disclosure

AVIVA PLC...............................................................

4. (a) Name of person selling shares or rights over shares

AVIVA PLC AND ITS SUBSIDIARIES................................................
...............

and, if different, beneficial owner

...............................................................

(b) Names of any other persons acting by agreement or understanding

...............................................................

Signed, for and on behalf of the party named in (3) above

............................................................

(Also print name of signatory)

NEIL WHITTAKER...............................................................

Telephone and extension number

01603 684420...............................................................

Note. The resultant total percentage holding of voting shares and rights over
shares is to be calculated by reference to the percentage held and in issue
outside treasury.

For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section, Tel. No: 020 7638 0129. E-mail: [e-mail]


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