Net Asset Value(s)-Replacement

 

TIDMADRK 
 
RNS Number : 3249R 
Allianz Dresdr 2 Endw Policy TstPLC 
28 April 2009 
 

The following replaces "Net Asset Value(s)" announcement released earlier today, 
Tuesday 28 April 2009 at 12.04pm under RNS Number 2874R for Allianz Dresdner 
Second Endowment Policy Trust plc. One of the projected final net asset values 
was incorrectly stated. 
 
 
Allianz Dresdner Second Endowment Policy Trust plc 
 
 
2009 Pool 
 
 
The Company announces that its unaudited net asset value as at 31st March 2009 
was 146.5p per 2009 Share. 
 
 
The valuation of the Company's endowment policy portfolio is based on estimated 
surrender value. 
 
 
Projected final net asset values 
 
 
The Company publishes projected final net asset values on a regular basis. These 
projections have been based both on current bonus rate levels and, in order to 
give a measure of the sensitivity of the projected final net asset value to 
changes in bonus rates on 150%, 120%,100%, 80% and 50% of current bonus rates 
and no further bonuses. Projected final net asset values as at 31st March 2009 
are: 
 
 
Projected final net asset values as at 31st December 2009:- 
 
 
157.0p per 2009 Share, assuming 150% of current bonus rates, 
153.1p per 2009 Share, assuming 120% of current bonus rates, 
150.5p per 2009 Share, assuming 100% of current bonus rates, 
148.0p per 2009 Share, assuming 80% of current bonus rates, 
144.2p per 2009 Share, assuming 50% of current bonus rates, 
138.0p per 2009 Share, assuming no further bonuses. 
 
 
Projected final net asset values are calculated using the principal bases and 
assumptions set out in the Annual Financial Report, which, inter alia, assume no 
further death claims, or demutualisation benefits are received and no further 
purchases or disposals of policies are made. They have been calculated after 
deduction of estimated future expenses and interest costs. Interest rates over 
the Company's life are assumed to be consistent with the shape of the swap yield 
curve at 31st March 2009. These illustrations are given to provide an indication 
of the sensitivity of the projected final net asset value to bonus rate changes. 
They should not be taken as forecasts of any particular degree of change in 
bonus rate levels. 
 
 
+---------------------------------------+--+----------+--+------------+ 
| ALLIANZ DRESDNER SECOND ENDOWMENT POLICY TRUST plc                  | 
+---------------------------------------------------------------------+ 
|                                                                     | 
+---------------------------------------------------------------------+ 
| TWENTY LARGEST HOLDINGS BY LIFE OFFICE                              | 
+---------------------------------------------------------------------+ 
| As at 31st March 2009 - 2009 POOL                                   | 
+---------------------------------------------------------------------+ 
|                                                                     | 
+---------------------------------------------------------------------+ 
| Life Office                           |  |    Value of Policies     | 
+---------------------------------------+--+--------------------------+ 
|                                       |  | GBP'000s |  | % of total | 
|                                       |  |          |  | investment | 
+---------------------------------------+--+----------+--+------------+ 
|                                       |  |          |  |            | 
+---------------------------------------+--+----------+--+------------+ 
| Standard Life                         |  |    5,906 |  |       30.3 | 
+---------------------------------------+--+----------+--+------------+ 
| Legal & General                       |  |    1,449 |  |        7.4 | 
+---------------------------------------+--+----------+--+------------+ 
| Prudential (Scottish Amicable)        |  |    1,203 |  |        6.2 | 
+---------------------------------------+--+----------+--+------------+ 
| Prudential                            |  |    1,094 |  |        5.6 | 
+---------------------------------------+--+----------+--+------------+ 
| Scottish Widows                       |  |    1,002 |  |        5.1 | 
+---------------------------------------+--+----------+--+------------+ 
| AVIVA (Norwich Union)                 |  |      875 |  |        4.5 | 
+---------------------------------------+--+----------+--+------------+ 
| Scottish Life                         |  |      870 |  |        4.5 | 
+---------------------------------------+--+----------+--+------------+ 
| Scottish Provident                    |  |      799 |  |        4.1 | 
+---------------------------------------+--+----------+--+------------+ 
| Clerical Medical                      |  |      730 |  |        3.7 | 
+---------------------------------------+--+----------+--+------------+ 
| Colonial                              |  |      253 |  |        1.3 | 
+---------------------------------------+--+----------+--+------------+ 
| Friends Provident                     |  |      144 |  |        0.7 | 
+---------------------------------------+--+----------+--+------------+ 
| Royal & Sun Alliance (Royal Life)     |  |      136 |  |        0.7 | 
+---------------------------------------+--+----------+--+------------+ 
| Sun Life of Canada                    |  |       90 |  |        0.5 | 
+---------------------------------------+--+----------+--+------------+ 
| AVIVA (Provident Mutual)              |  |       89 |  |        0.5 | 
+---------------------------------------+--+----------+--+------------+ 
| Pearl Assurance                       |  |       88 |  |        0.5 | 
+---------------------------------------+--+----------+--+------------+ 
| Britannic Assurance                   |  |       83 |  |        0.4 | 
+---------------------------------------+--+----------+--+------------+ 
| NFU Mutual                            |  |       82 |  |        0.4 | 
+---------------------------------------+--+----------+--+------------+ 
| Gresham Life                          |  |       71 |  |        0.4 | 
+---------------------------------------+--+----------+--+------------+ 
| National Provident                    |  |       66 |  |        0.3 | 
+---------------------------------------+--+----------+--+------------+ 
| Scottish Equitable                    |  |       64 |  |        0.3 | 
+---------------------------------------+--+----------+--+------------+ 
|                                       |  |          |  |            | 
+---------------------------------------+--+----------+--+------------+ 
| Total of twenty largest holdings      |  |   15,094 |  |       77.4 | 
+---------------------------------------+--+----------+--+------------+ 
| Others                                |  |      775 |  |        4.0 | 
+---------------------------------------+--+----------+--+------------+ 
| Total holdings of endowment policies  |  |   15,869 |  |       81.4 | 
+---------------------------------------+--+----------+--+------------+ 
|                                       |  |          |  |            | 
+---------------------------------------+--+----------+--+------------+ 
| Fixed Interest Holdings               |  |          |  |            | 
+---------------------------------------+--+----------+--+------------+ 
| Abbey 5.375% 30/12/09                 |  |      516 |  |        2.7 | 
+---------------------------------------+--+----------+--+------------+ 
| UK Govt 5.75% 07/12/09                |  |    3,107 |  |       15.9 | 
+---------------------------------------+--+----------+--+------------+ 
|                                       |  |    3,623 |  |       18.6 | 
+---------------------------------------+--+----------+--+------------+ 
|                                       |  |          |  |            | 
+---------------------------------------+--+----------+--+------------+ 
| TOTAL OF INVESTED FUNDS               |  |   19,492 |  |     100.00 | 
+---------------------------------------+--+----------+--+------------+ 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
155 Bishopsgate    By Order of the Board 
London EC2M 3AD    P W I Ingram 
28th April 2009Company Secretary 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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