Date: 04/9/2007

Guardian Holdings Limited has announced its intention to bring together its two insurance companies - Zenith Insurance plc (ZIP) and Link Insurance Company Limited (LICL) - to create a single Gibraltar based insurer underwriting a single suite of products.

Steve Tidd, CEO of GHL Europe, comments: “We have been working hard over the past 12 months to consolidate our European operations and proposition in order to present a strong and consistent brand to our target markets. We rebranded our UK service business as GHL Insurance Services UK Limited earlier this year, and brought our UK operations together under that brand and under one roof. In working towards consolidating our product suite and moving it on to full cycle EDI, now is the logical time to bring our insurance companies together and align the brand with that of our parent.”

The merger is subject to approval from the Gibraltar Financial Services Commission (FSC), after which the insurance business of Link Insurance Company Limited (LICL) will be transferred to Zenith Insurance plc (ZIP) at the end of 2007.