The Norwich Union International Premier Portfolio is a single premium investment bond that provides you with the opportunity to invest in an almost unlimited range of funds and fund managers from around the world, enabling you to create your own unique portfolio. For details on restrictions that may apply, please see the 'Allowable Assets Technical Guide' which is available from your Financial Adviser. The Minimum Amount for an investment in Premier Portfolio is GBP50,000 (EUR75,000 or USD75,000). Premier Portfolio is designed to be a medium to long-term investment and should not be viewed as a short-term commitment.

Premier Portfolio now offers new investors the option to request the appointment of a discretionary manager to manage all, or part, of their bond.  This option gives you the opportunity to benefit from the high levels of specialist investment expertise offered by discretionary managers.

The value of an investment can go down as well as up and is not guaranteed.

The Norwich Union International Core Funds Bond allows you to invest your money in a core range of funds that aim to meet your investment needs. The minimum initial investment is GBP10,000 (EUR15,000 or USD15,000).

The Norwich Union International With-Profit Bond allows you to invest in Norwich Union's With-Profit fund. The minimum initial investment is GBP10,000 in the Norwich Sterling With-Profit Fund, EUR15,000 in the Norwich Euro With-Profit Fund and USD15,000 in the Norwich Dollar With-Profit Fund.

The Norwich International Investment Bond offers access to Norwich Union's own Fund Manager's (Morley Fund Management) comprehensive range of funds to match different attitudes to investment risk. The minimum initial investment is GBP10,000 (EUR15,000 or USD15,000).

The Norwich International Portfolio Bond allows you to choose from a wide range of quality funds managed by Morley and other leading investment management houses in the industry. The minimum initial investment is GBP50,000 (EUR75,000 or USD75,000). This product is closed to New Business, with effect from 26th May 2006. Existing bonds are unaffected so existing investors can continue to top-up their investment and switch between funds as usual.

The value of investments can go down as well as up and is not guaranteed.

The With-Profit funds give you access to the stock market, but reduce some of the risks involved. One year the investments may do very well, but the next could see them do very badly. So instead of sharing out what the fund makes - or loses - each year, a with-profit fund aims to even out some of the variations in performance over the period of your investment. We call this 'smoothing'.

Smoothing means that profits or losses are spread from one year to the next. Total 'profits' earned by the fund will be paid out in the long term. Payments from the fund are achieved through a system of regular and final bonuses (please refer to 'What is a Regular Bonus?' and 'What is a Final Bonus?' within this section for more information).

A Market Value Reduction (MVR) may apply when you take money out of any of the With-Profit funds, which may reduce the value of your investment (refer to 'What is Market Value Reduction?' for more information).

For a full explanation of how with-profit investments work please see 'Guide to International With-Profit Investment' in the Literature section.

The Regular Bonus rate is usually decided once a year but may change at other times during the year. We add the bonus to your bond by increasing the price of the units you have in the fund.

If your bond provides a payment on death, this is guaranteed to include any regular bonus that has been added. The bonus rate will depend on which With-Profit fund you choose to invest in.

For a full explanation of how with-profit investments work please see 'Guide to International With-Profit Investment' in the Literature section.

You may get a final bonus when you leave the fund or if you die or if the plan ends. This will increase the value of your bond above that indicated by the price of your units. The final bonus is reviewed twice a year: at mid and at end year. However, it may change at any time during the year, particularly in difficult market conditions.

The final bonus is not guaranteed and may be changed or removed at any time. The bonus rate will depend on which With-Profit fund you choose to invest in.

For a full explanation of how with-profit investments work please see 'Guide to International With-Profit Investment' in the Literature section.

One of the big advantages of the With-Profit Fund is that regular bonuses aim to iron out the short-term ups and downs of the stock market so your investment grows more smoothly. What's more, if investment returns turn out to be higher than expected, you could also receive a final bonus on top of these regular bonuses when you cash-in your bond.

If, however, investment returns are lower than expected then a market value reduction may be applied when you cash-in. This would reduce what you get back and ensures that all with-profits investors are treated fairly. An MVR never applies on death.

For a full explanation of how with-profit investments work please see 'Guide to International With-Profit Investment' in the Literature section.

Unit linked life insurance policies are a combination of an investment bond and a life insurance policy. The policyholder's capital is invested in open-ended investment funds and policyholders in return receive ownership of units. The price of these units is based on the fund's net asset value. Movements in the unit price reflect the performance of the fund and will be subject to market movements, which can be up or down and are not guaranteed.

Glossary:

• 'Open-ended' investment funds: The funds where the monies are invested have no set term.
• 'Units': The investment is used to purchase units in the fund. The number of units is subject to the unit price.
• 'Net asset value': The total value of the fund's portfolio less liabilities, calculated on a daily basis.

Our products are principally designed for the UK market. To find out if they are suitable, we encourage investors to seek the advice of their Financial Adviser. If you would like further information or need to locate a Financial Adviser authorised to distribute our products in your area please use the details on the contact page.