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June 10, 2011

Standard Life Mutual Funds Ltd. announces investment objective changes for five funds and a portfolio manager change for two funds

Montréal, June 10, 2011 – Standard Life Mutual Funds Ltd. has received securityholders' approval to change the investment objectives of five of its funds: Standard Life Global Monthly Income Fund, Standard Life Canadian Dividend Growth Fund, Standard Life Canadian Dividend Growth Class, Standard Life Dividend Income Fund and Standard Life Canadian Small Cap Fund.  In addition, the investment strategies of these funds will be amended to reflect their new investment objectives and the name of Standard Life Global Monthly Income Fund will also change.  All changes are expected to be effective on or about June 15, 2011.

Submitted to securityholders' vote of the relevant funds earlier today, these new investment objectives will provide more flexibility in the daily management of the funds in order to enhance value for securityholders.

Funds	Proposed changes
Standard Life Global Monthly Income Fund	The fund's investment objective will be reworded to focus on long-term capital growth as well as generating income. The investment strategies will change to reflect the new investment objective. The name of the fund will change to Standard Life Tactical Income Fund.
Standard Life Canadian Dividend Growth Fund	The fund's investment objective will be clarified to allow for more flexibility with regard to investing in non-Canadian securities. The investment strategies will change to reflect the new investment objective.
Standard Life Canadian Dividend Growth Class	The fund currently invests up to 100% of its assets in Standard Life Canadian Dividend Growth Fund. The fund's investment objective will be clarified to allow for more flexibility with regard to investing in non-Canadian securities. The investment strategies will change to reflect the new investment objective.
Standard Life Dividend Income Fund	The fund's investment objective will be broadened to allow for more flexibility with regard to investing in fixed-income securities. The investment strategies will change to reflect the new investment objective.
Standard Life Canadian Small Cap Fund	The fund's investment objective will change to remove the fixed market capitalization limits in order to provide the portfolio manager with more flexibility when investing in small capitalization companies. The investment strategies will change to reflect the new investment objective.

Standard Life Mutual Funds Ltd. also intends to change the portfolio manager of Standard Life U.S. Equity Fund and Standard Life U.S. Equity Class to Beutel Goodman & Company, Ltd. and to change the name of these funds to Standard Life U.S. Equity Value Fund and Standard Life U.S. Equity Value Class, effective on or about July 4, 2011.

Standard Life Mutual Funds Ltd. also changes the name of the Standard Life Corporate High Yield Bond Fund and Standard Life Corporate High Yield Bond Class to Standard Life Corporate Bond Fund and Standard Life Corporate Bond Class, respectively.

About Standard Life

Standard Life plc is a leading long-term savings and investment company headquartered in Edinburgh, Scotland. Standard Life has around 6 million customers worldwide and operates in the United Kingdom, Europe, North America and Asia Pacific, and globally with Standard Life Investments.

IIn Canada, Standard Life has been doing business for 178 years. Standard Life Financial Inc., which wholly owns The Standard Life Assurance Company of Canada and Standard Life Mutual Funds Ltd., is Standard Life plc's largest operation outside the UK. With about 2,000 employees, it provides long-term savings, investment and insurance solutions to more than 1.4 million Canadians, including group benefit and retirement plan members.

As of March 31, 2011, Standard Life plc had C$309 billion in assets under administration, including C$41 billion in Canada through Standard Life Financial.

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Contact:

Valérie Lamarre
Senior Advisor, External Communications and Public Affairs
Standard Life
Tel.: 514-499-7999, ext. 8150
valerie.lamarre@standardlife.ca