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Morley Fund Management, home to one of the City’s largestcredit teams, has appointed David Burgess to the newly createdposition of head of private placements in response to growth in itsprivate placement business.

Reporting to Morley’s head of credit Paul Mingay, Davidjoined the team in September. He is responsible for identifying newprivate placement investments and monitoring existingagreements.

Morley Fund Management’s head of credit Paul Mingay said therole was previously incorporated within the team but Morley’scredit business has grown to the size that requires a full-timeplacement specialist.

“Private placements have become an important component inhelping to deliver strong, consistent returns to clients in ademanding credit environment. We’ve hired David because ourprivate placement business has grown to a size that needs aspecialist. I am delighted that he has joined theteam.”

Prior to joining Morley, David worked at MetLife for more than 13years as head of investment grade debt, where he was responsiblefor a European portfolio in excess of US$9 billion in public bondsand privately-placed securities. Before this, he worked at FitchRatings as head of corporate ratings for more than five years.David has more than 20 years’ investment experience in bothprivate placement and leveraged loan transactions.

Morley’s credit team manages more than £24bn in assets* andemploys more than 25 fund managers and investment analysts locatedin London and Boston.

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For more information contact:
Beth Saint
Corporate Communications
Telephone: 020 78098125

Notes to editors:

MorleyFund Management
Morley Fund Management Limited is the UK-based asset managementbusiness of Aviva plc. Firms within the Morley group of companiesmanage £157bn from offices around the world as at 30 June2006.

Morley manages both institutional and retail funds under the Morleybrand. It also acts as investment manager for a range of retailinvestment funds, marketed in the UK under the Norwich Union brand,and international funds marketed under the Aviva Funds brand.

Awards

• Property Fund Manager of the Year, Pensions Management Awards2006
• Best Commitment to Raising Standards of Trustee Education,Engaged Investor Awards 2006
• Property Fund Manager of the Year, Property Week Awards2006
• SRI Provider of the Year, Global Pensions 2006
• Central European Property Awards 2005 - Outstanding Company ofthe Year & Investor of the Year
• UK Pensions Awards 2005 – Property Manager of theYear
• Property Week Awards 2004 – Best Property FundManager
• Pensions Management Provider Awards 2003 – Best PropertyFund Manager
• Fund Manager of the Year - Pensions Week Awards 2002
• Specialist Manager of the Year - UK Pensions Awards 2002

Further information about Morley Fund Management can be found atwww.morleyfm.com