Oct 2000 - Feb 2001 - Results of EMAG Online Survey of Policyholder Opinionon Options for Equitable:

Question 1: Are you satisfied with the reasons given by The Equitable's board for putting the society up for sale?

Question 2: Do you believe that The Equitable is giving adequate consideration to options other than an outright sale?

Question 3: Do you agree with the Board that it is best placed to judge what is in the best interests of all members?

Question 4:Are you satisfied with the information that you have received from the society since the H. of L. ruling?

Question 5: Would you like to be offered alternative options, rather than a single bid recommended by the Board?

Question 6: Whichever course is followed, there will probably need to be a reduction in the level of terminal bonuses and/or reduced future bonus levels. In this light would you prefer? (Mutual, sale to PLC, broken up to maximise members returns, other).

Question 7: If the Society is sold, the members may be offered windfall payments. What is the minimum sum you personally would want in recompense for your loss of ownership to approve the sale?

Question 8: Whichever course is followed, there will probably need to be a reduction in the level of terminal bonuses and/or reduced future bonus levels. In this light would you prefer? What course of action would you now wish to see the Board take?

Question 9: EMAG is considering whether to offer to cast members' proxy votes at the EGM, either as directed by the member or at EMAG's discretion. Would you approve of having an option to nominate EMAG to cast proxy votes for those unable to attend an EGM?

Question 10: Do you approve of The Equitable's recent, extensive high-profile advertising for new business?

Question 11:Does your Equitable pension have a Guaranteed Annuity option(GAR)? (This is asked so that we can separately analyse the replies to identify whether there are differences in the responses of GARs/non-GARs.)