Acquisition(s)

Acquisition

Chesnara plc

20 December 2010

                                 Chesnara plc                                  

                    Acquisition of the Save & Prosper Group                    

                                  ACQUISITION                                  

Following the publication on 30 November 2010 of a "Class 1" circular dated
29 November 2010 for the purposes of Chapter 10 of the Listing Rules (the 
"Circular") in connection with the acquisition of the entire issued share
capital of Save & Prosper Insurance Limited and its wholly owned subsidiary
Save & Prosper Pensions Limited (together the Save & Prosper Group), from
JPMorgan Asset Management Marketing Limited, for a total consideration of £63.5
million (the "Acquisition"), and the Announcement on 16 December 2010 regarding
the approval of the Acquisition by the shareholders of Chesnara plc ("Chesnara"
) at the General Meeting held on the same day, Chesnara is pleased to announce
that all conditions precedent to the completion of the Acquisition have been
fulfilled and the Acquisition has, today, been completed.

For further enquiries, please contact:

Chesnara plc

Graham Kettleborough, CEO

Tel: [phone]

Press

Michael Henman, Cubitt Consulting

Tel: [phone]

Notes to editors:

Chesnara plc, which listed on the London Stock Exchange in May 2004, is the
owner of Countrywide Assured plc ("CA") and Movestic Livförsäkring AB
("Movestic) (formerly Moderna Försäkringar Liv AB). CA is a UK life assurance
subsidiary that is substantially closed to new business. In June 2005 Chesnara
acquired a further closed life insurance company - City of Westminster
Assurance ("CWA") - for GBP47.8m. With effect from 30 June 2006, CWA's policies
and assets were transferred into CA. Movestic, a life assurance company which
focuses on pensions and savings, was acquired on 23 July 2009 for GBP20m. The
company, which was launched in 2002, continues to write new business and grow
its strong position in the Swedish unit-linked market. Movestic's market
presence was increased through the acquisition of a controlling stake in
AkademikerRÃ¥dgivning I Sverige AB, an IFA, in late 2009 and the purchase of the
policyholders, personnel, intellectual property and systems of Aspis
Försäkrings Liv AB, a life and health insurer, in February 2010.

This announcement does not constitute, or form part of, an offer to sell, or
the solicitation of an offer to subscribe for or buy any securities, nor the
solicitation of any vote or approval in any jurisdiction.