1. Building a successful brand Rickard Backlund, CEO Reykavik, 21 September, 2006

2. 2 Agenda Introduction to Aberdeen Property Investors The corner stones for building a successful brand Conclusions and questions

3. 3 Amsterdam Cologne Copenhagen Helsinki Oslo London Luxembourg Paris Stockholm Brussels Aberdeen Property Investors Leading property investment manager in Northern Europe Local presence with 500 employees in 10 countries Active management generating excess returns A Fund Manager with International Reach

4. 4 Aberdeen Property Investors A strong institutional client base Management volume in excess of €9 billion* of property investments Primarily institutional clients Business areas –Property funds –Management mandates * As of 30/06/2006

5. 5 Source: Aberdeen Asset Management PLC as at 30/06/2006 Aberdeen Asset Management Independent Asset Manager –UK Listed Company €101.7 billion* under management –Fixed Income 50% –Equity 41% –Property 9% Funds and Mandates Global operations

6. 6 Vision and Mission Vision To be Europe’s leading investment manager specialising in property investments. Mission To facilitate investment exposure to property with superior performance. Offer a comprehensive range of investment products and services to satisfy investors’ need for property exposure.

7. 7 Our strategic transition Mandates ->Products Domestic ->International Property Mgmt->Fund Management Large mandates->Many investors Price competition->Performance comparison

8. 8 We are in an excellent position to take a leading position Positive market trends –Increasing international diversification –Demand for property funds –Large capital flows to be reallocated in Europe and globally by institutions We are well positioned –Excellent track record –Growing European coverage –Few international, independent competitors –Part of Aberdeen –Strong brand

9. 9 Building a brand Focus on a well defined client group Focus on our staff Build on performance Consistent communication An active Board

10. 10 Focus on a well defined client group Tailored communication Personal meetings - every client is individual Seminars and round table discussions - knowledge sharing Aberdeen has made an active choice in who we work for – our clients are institutional investors

11. 11 Focus on our staff Quality at all levels Business focus Ethical discussions Awareness of the international scope of Aberdeen Our staff members are our prime brand carriers

12. 12 Benchmark Source: Aberdeen Aberdeen’s business process generates higher returns Build on performance Outperforming the market Over the last 10 years, Aberdeen’s discretionary mandates outperformed the market by 1.5% p.a. (11.6% vs. 10.1%) Lower risk Standard deviation was substantially lower than average over the same period (5.2% vs. 6.1%) High risk adjusted returns Aberdeen’s risk adjusted returns were therefore substantially higher than benchmark (2.23% vs.1.65%) Track Record – Nordic total returns Aberdeen has consistently outperformed its peers… Aberdeen discretionary mandates Total returns 10.1% 11.6%

13. 13 Consistent communication Understanding of where the group is heading - internally Clear, consistent, image of the company - externally A listed parent company sets the scene Transparency is high on the agenda Facts and performance is the basis for all communication Our internationalisation has changed our communication

14. 14 An active board Business focus Active support to business development Direct client contacts Our executive board members are close to the market

15. 15 Recognition For the second consecutive year, Aberdeen has been recognised as one of the leading Investment managers. 2006 2005 Western Europe# 1# 1 Nordic & Baltic # 1# 1 Global # 1# 2