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SMI strategy

In Money Marketing (May 1) you report that Scottish Mutual

International is to close to new business. The position is that SMI

will cease to accept new business from all territories with the

exception of the UK, Channel Islands and Isle of Man.

All with-profits bond products were withdrawn from April 29.

The Abbey National for Intermediaries&#39 sales teams will continue to

provide SMI products for residents of the UK, Isle of Man and Channel

Islands as part of Abbey National&#39s stated strategy of focusing

entirely on UK personal financial services.

Ambrose McGinn

Director,

Abbey National for Intermediaries,

London

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