Release date: 18 August 2005
Updated: 4 November 2005

Following a review of our fund portfolio, and in accordance with policy conditions, we have decided to withdraw the following external pension funds:

Fund Name	Switch Form Deadline	Date of Closure
Schroders Balanced Managed	11 November 2005	18 November 2005
Invesco Perpetual Stockmarket Managed	14 November 2005	21 November 2005
Invesco Perpetual High Income	14 November 2005	21 November 2005
SG Asset Management UK Growth	18 November 2005	25 November 2005
SG Asset Management Stockmarket Managed	18 November 2005	25 November 2005
Newton High Yield Bond	02 December 2005	09 December 2005
Newton Balanced	02 December 2005	09 December 2005

These investment options are no longer available to NPI customers.

If you hold investments in any of these funds you will need to switch them. Any future contributions you wish to make will also need to be redirected into your chosen fund.

A letter has been sent to all customers, investing in the funds listed above, informing them of the deadline for the return of the switch and redirection request form.