Equitable Life Assurance Society ("The Society") Announcement Relating To Invitation To Tender To Holders of GBP350,000,000 8 Per Cent Undated Subordinated Guaranteed Bonds Of Equitable Life Finance Plc (The "Bonds")

| Source: Equitable Life Assurance Society Equitable Life Assurance Society

London, UK, Dec. 29, 2004 (PRIMEZONE) -- FOR IMMEDIATE RELEASE

EQUITABLE LIFE ASSURANCE SOCIETY ("THE SOCIETY")

ANNOUNCEMENT RELATING TO INVITATION TO TENDER TO HOLDERS OF GBP350,000,000 8 PER CENT UNDATED SUBORDINATED GUARANTEED BONDS OF EQUITABLE LIFE FINANCE PLC (THE "BONDS").

London, 29 December 2004

Following the expiration of the extended deadline for the Invitation to Tender at 3:00pm on 23 December 2004, two copies of a notice to Bondholders dated 23 December 2004 regarding the settlement price for the Bonds have been submitted to the UK Listing Authority ("UKLA") and are available for public inspection at the UKLA's Document Viewing Facility.

This announcement is not an offer to purchase, a solicitation of an offer to purchase, or a solicitation of an offer to sell any Bonds. 



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