The OMGB USD Protected Global Index 2 Fund ('the Fund') aims to capture the positive performance of a Global Index Portfolio ('the Portfolio') while returning at least 100% of your contribution at the end of a six-year term. However, this protection of your capital is not guaranteed.

The OMGB USD Protected Global Index 2 Fund is available exclusively to South African resident clients who are investing in a new Life Account 2 contract from Old Mutual Guernsey, and who wish to place 100% of their contribution in the Fund which aims to benefit from any future global economic growth.

You can invest in the OMGB USD Protected Global Index 2 Fund from 6 February 2012 until 16h00 GMT on 30 March 2012 – please note that if the Fund is oversubscribed the closing date may be earlier. We will write to you at the first opportunity if this affects your application.

Your investment will be held on deposit within Life Account 2 and credited with any interest earned until 30 March 2012 (the closing date for investing). All investors' contributions will be held on deposit and placed into the OMGB USD Protected Global Index 2 Fund on the same day, in a single trade.

The Fund launched on 5 April 2012 (the investment reference date).

The final investment reference date is 5 April 2018 and the maturity date is 12 April 2018.

At the end of the six-year term the average growth for your investment will be calculated. Your contribution plus any average growth will be switched into the OMGB USD Money Market Fund in your Life Account 2, unless Morgan Stanley (the issuer of the underlying) is unable to meet its commitments.