Historical Actions.

2007 — 2008 SHARE BUYBACK PROGRAMME

2007 half year results:

A £1 billion capital return programme in the form of an on-market share buyback is approved by the board.

July 2007 — November 2008:

691 million shares were bought back at an average of 121.92p per share. Total cost of the programme was £838.2 million.

2002 RIGHTS ISSUE

September 2002

Legal & General Group Plc announced a rights issue to raise equity and provide capital to finance the Group's new business growth. Shareholders were given the right to purchase 13 new shares for every 50 they held for 60p each (£7.80 for every 13 shares).

October 2002

1,269,947,596 new ordinary shares were issued, a take-up of over 95%, raising proceeds of £788 million, net of expenses.

An example of the effect this had on an individual's holding:

Assuming you held 100 shares on 19th September 2002 with a share price of 100.5p each and therefore a total value of £100.50, the following calculation explains how the shares went from 100.5p on 26 November to 92.14p on 27 November.

Take 50 original shares at 100.5p and add 13 shares at 60p each = 50x100.5+13x60 this means a value of 5805p for the 63 shares or 92.14p per share

If you took up all your rights to purchase the new shares at 60p each:
The total shareholding will now be 126 shares (13 shares for each 50 old shares you had plus the original 100 shares) with a share price of 92.14p each and therefore a total value of £116.10.

Assuming you did not take up your rights to purchase the new shares or were unable to: You retained a shareholding of 100 shares which now have a share price of 92.14p each and therefore a total value of £92.14. Your 13 rights per share were sold on your behalf and the net proceeds were then sent to you.

2001 CONVERTIBLE BONDS

November 2001

Legal & General Plc announced the issue of £525 million of convertible bonds due in 2006, which generated net proceeds after expenses of £515 million. The convertible bonds could be redeemed in 2005, and thereafter at the option of the Company, at par, providing the price exceeded 120% of the conversion price.

A coupon of 2.75% per annum was paid semi-annually and the bonds converted into ordinary shares of the Company at 204p per share. The bonds would, if converted, give rise to the issue of 285.3 million new ordinary shares, which represented approximately 4.4% of the issued share capital.

September 2002

An announcement was made to bondholders through Euroclear that as a consequence of the rights issue (described above) the conversion price for the convertible bonds, issued in December 2001, was adjusted from 204p to 184p per Legal & General share.

2006

The convertible bond matured and was redeemed at par without being converted into ordinary shares.