Press Release Ireland

28 October 2008

Financial Confidence Index records

small drop despite market turmoil

In Standard Life’s quarterly survey of more than 1,000 adults who were asked how financially confident they felt, the average score dropped by 0.9 points from 57.1 in June 2008 to 56.2 in September 2008.

“It’s a smaller fall than we expected, given the survey took place during heightenedfinancialmarket turbulence,” said Brendan Barr, head of marketingwith Standard Life. “However, we know from previous research the most important contributor to a person’s financial confidence is not the stock market but their job security.”

Those in the 65+ category are the most financially secure (64.9) although its important to note that this was before the Budget and the over 70s medical card controversy which ensued. The least secure continue to be those aged 25to 34 who scored 53.1.

Men continue to be more financially secure than women, scoring 59 compared with 53.5 respectively.

Dubliners most confident – Connaught least confident.

Dublinrespondents remain the most financially confident scoring 59.9 whilst Connaught is the least financially secure region with a score of 53.3.Munster scored 53.8 and Rest of Leinster scored 56.8.

30% believe they will be worse off in a years time

When asked if they will be financially better or worse off in 12 months time, 30% believe they will be worse off, whilst nearly as many(27%) believe they will be better off.

How secure do you think your job/business prospects are in 12 months time?

Over half (52%) believe they will have the same level of job/business security in a year’s time.Over a quarter (28%) think they will be less secure in their job or business in a year’s time.

Women are slightly more optimistic than men, with almost two-thirds (65% down from 70% in June) thinking their job/business prospects will be the same or more secure, compared to six in ten men (61% down from 69% in June).

How much do you think your home will be worth in 12 month’s time?

A slightly higher proportion of respondents (44% - up 40% from June) believe their house will be worth less in a year’s time. For property values, the least optimistic regions are Rest of Leinster and Dublin, 46%of whom believe their homes will be worth less in a year’s time.

Financial Confidence Index

Standard Life Financial Confidence Index* / Sept 2008 / June 2008 / 3mth
Change / Sept 2007 / 12mth
Change
Republic of Ireland Adults 18+ / 56.2 / 57.1 / -0.9 / 66.4 / -10.2
Male / 59.0 / 60.7 / -1.7 / 67.8 / -8.8
Female / 53.5 / 53.5 / +0.0 / 64.9 / -11.4
18-24 / 53.9 / 51.1 / +2.8 / 66.7 / -12.8
25-34 / 53.1 / 53.5 / -0.4 / 66.3 / -13.2
35-44 / 54.3 / 53.3 / +1.0 / 65.5 / -11.2
45-54 / 55.0 / 57.1 / -2.1 / 64.1 / -9.1
55-64 / 58.8 / 61.8 / -3.0 / 67.1 / -8.3
65+ / 64.9 / 69.6 / -4.7 / 69.1 / -4.2
Dublin / 59.9 / 58.9 / +1.0 / 67.8 / -7.9
Rest ofLeinster / 56.8 / 58.1 / -1.3 / 65.9 / -9.1
Munster / 53.8 / 54.2 / -0.4 / 67.0 / -13.2
Connaught/Ulster / 53.3 / 57.0 / -3.7 / 63.6 / -10.3
Retired / 62.4 / 69.2 / -6.8 / 69.9 / -7.5
Non-retired / 55.3 / 55.0 / +0.3 / 65.5 / -10.2
Working / 56.7 / 57.2 / -0.5 / 67.2 / -10.5
Non-working / 50.7 / 48.0 / +2.7 / 60.0 / -9.3
Save on regular basis / 58.9 / 60.4 / -1.5 / 68.0 / -9.1
Do not save on regular basis / 49.6 / 48.7 / +0.9 / 60.9 / -11.3

*The Standard Life Financial Confidence Index is a measure of how financially secure people feel on a scale of 1 to 10.
The results are averaged and then converted to give a total score on a percentile basis.

Notes for Editors

A total of 1,044 adults in Ireland (aged 18+) were surveyed online by Research Plusbetween September 19 and 29, 2008.
The Standard Life Financial Confidence Index is a measure of how financially secure people feel on a scale of 1 to 10. The results are averaged and then converted to give a total score marked on a percentile basis.
Dublin refers to Dublin city and county. Rest of Leinster refers to Leinster excluding Dublin. Connaught/Ulster refers to Connaught plus Donegal Cavan and Monaghan.

For media queries contact:

Aileen Power, head of corporate communications, Standard Life: (01) 639 7166 or mobile (086) 8506 281

Brendan Barr, head of marketing, Standard Life: (01) 639 7754 or mobile (087) 9908 660