Date: 04/9/2007

Guardian Holdings Limited has announced its intention to transfer the renewal rights of the fleet motor products currently underwritten by its Gibraltar-based insurer Link Insurance Company Limited to Lloyd’s motor insurance Syndicate 1231 managed by Jubilee Managing Agency.

Jubilee Managing Agency is part of the Appleclaim Group, in which Guardian Holdings Limited has a 37% interest.

Steve Tidd, CEO of GHL Europe, comments: “As we work towards our goal of bringing Link Insurance Company and Zenith Insurance plc together and moving the consolidated product suite on to full cycle EDI, it has become clear that the current range of fleet motor products sits far better within Syndicate 1231 than within our own business model going forward. Jubilee Managing Agency has specialised in fleet insurance for many years and now insures some of the country’s best known fleets of vehicles. We believe this transfer of business will not only deliver a more efficient proposition for fleet brokers, but will also provide them with increased access to an expert team with extensive knowledge of the fleet market.”

The transfer of the renewal rights of Link’s fleet business to Syndicate 1231 will be effective from 1st November.