8th May 2008 – THE CLUB IS TO OPEN A SINGAPORE OFFICE

We are very pleased to announce that we have received approval in principle from the Monetary Authority of Singapore to open a branch of the Club in Singapore. The approval will be subject to the Club fulfilling certain conditions during the next few months.

The office will provide a full underwriting and claims handling service for our membership in Singapore, Malaysia, Thailand and Indonesia. In this way we will deliver more dedicated support to our Members and their brokers in the S.E Asian region, as well as more opportunity to develop the membership in the region. The role of Spica Services as our much valued Club correspondents in the region will continue in exactly the same way as at present.

There is much work to do in implementing our plans and we anticipate that the office will be fully operational by the end of April 2009. The business operation will be led by Steve Randall, our Senior Underwriter, who has over 15 years experience in the region.

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