NOTICE for publication pursuant to section 107 (1) of the Financial Services and Markets Act 2000 (the “FSMA”)

Chevanstell Limited (“Chevanstell”), and

Oslo Reinsurance Company (UK) Limited (“Oslo Re”)

Transfers of Insurance Business

NOTICE IS HEREBY GIVEN that Chevanstell and Oslo Re, (collectively “the Transferring Companies”) (both being members of the Hillcot Underwriting Management Limited Pool (formerly known as the Toa Re Pool and as the G.E. Oatley Pool) (“HUM Pool”)) will apply to the High Court of England and Wales (the “Court”), pursuant to section 107 (1) of the FSMA, for an Order sanctioning the transfer of the entirety of the business written on behalf of each of them as members of the HUM Pool by Hillcot Underwriting Management Limited (“HUM”), together with the benefit of reinsurance protections arranged by HUM relating to such business (“the Transferring Business”), to Hillcot Re Limited (“Hillcot Re”), a fellow member of the HUM Pool (the “Transfer Schemes”) .

HUM was originally incorporated as Vivigreen Limited on 2nd February 1978. It changed its name to G E Oatley (Underwriting Agencies) Limited on 7th September 1978, to Toa Re-Oatley Underwriting Management Company Limited on 21st November 1988, to Toa Re Underwriting Management Limited on 25th March 1999 and to its current name on 1st April 2003.

Chevanstell participated in the HUM Pool between 1980 and 1989 inclusive.

Oslo Re participated in the HUM Pool between 1982 and 1985 inclusive.

Reports on the Transfer Schemes outlined herein have been prepared by an independent expert, Mr Dewi James of James, Brennan & Associates, a Fellow of the Institute of Actuaries, whose appointment has been approved by the Financial Services Authority (the “FSA”). The reports conclude that policyholders of the Transferring Companies, both those transferring and those remaining with Chevanstell and Oslo Re, and policyholders of Hillcot Re will not be adversely affected by the Transfer Schemes. A copy of the reports and a statement setting out the terms of the Transfer Schemes and containing summaries of the reports can be seen on www.hillcot.co.uk or obtained from Tom Nichols at Hillcot Underwriting Management Limited No. 1 Stoke Road, Guildford, Surrey GU1 4HW.

The proposed Transfer Schemes will secure the continuation by or against Hillcot Re of any legal proceedings by or against the Transferring Companies that relate to the Transferring Business. The operational management of the Transferring Business will not alter as a result of the transfers and all claims currently being dealt with by HUM on behalf of the Transferring Companies will, after the proposed Transfer Schemes, continue to be handled by HUM on behalf of Hillcot Re. Future claims arising under the Transferring Business will be similarly dealt with by HUM on behalf of Hillcot Re.

Any person or company that considers they would be adversely affected by the Transfer Schemes is entitled to be heard by the Court pursuant to section 110 (b) of the FSMA. The application will be heard on 11 December 2006 in the Companies Court, Royal Courts of Justice, Strand, London WC2A 2LL.