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Morley Fund Management, one of Europe’s leading fundmanagers, has appointed Michela Muscio to the position of clientrelationship manager. Michela joins the team this week and willreport to Gabriele Miodini, who heads up the team based in Milan,Italy.

Her appointment will allow the team to continue its successfulexpansion in the Italian market and provide a high standard ofclient service to its fast growing list of clients, especially inthe private banking, GPF and insurance sectors.

Adam Lessing, head of European business development at Morley,said: “Michela’s appointment reflects Morley’scommitment to accelerating the growth of its European business.Italy is a key market forMorley’s European expansion plans. During 2006 sales of theAviva Morley SICAV product range in Italy have exceeded €450mand have surpassed the total sales for 2005. We plan to continuethis growth and ultimately become a leading provider ofcross-border products in Italy.”

Michela was most recently an editor and analyst at MorningstarItaly. She was responsible for conducting quantitative andqualitative analysis on mutual funds and providing ratingrecommendations. Prior to Morningstar Italy, Michela worked forDeutsche Bank in the Global Finance Markets team.

Michela’s appointment follows Adam Lessing’sappointment as head of European business development and IreneMastelli’s appointment as sales manager in Italy earlier thisyear.

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For further information please contact:
BethSaint
Corporate Communications
Telephone: 020 7809 8125
Morley Fund Management

Notes toeditors:

Morley Fund Management
Morley FundManagement Limited is the UK-based asset management business ofAviva plc. Firms within the Morley group of companies manage £162bnor €239bn from offices around the world as at 30 September2006.

Morley manages both institutional and retail funds. It also acts asinvestment manager for a range of retail investment funds, marketedin the UK under the Norwich Union brand, and international fundsmarketed under the Aviva brand.

Awards

• Equity End User of the Year – Derivatives WeekDEAL Awards 2006
• 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

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