Debt facilities

Amlin PLC
24 November 2004


PRESS RELEASE


DATE       Embargo to 24 November 0700

           For Immediate Release:




         Amlin raises Tier Two debt and signs a new term loan facility

Amlin plc ('Amlin'), the leading Lloyd's insurer, has raised US$50 million of
lower Tier Two subordinated debt through a private placement (the 'Issue') and
has signed a new 12 month term loan facility of £30 million arranged by Lloyds
TSB.  Amlin will use the proceeds to replace the existing US$90 million Letter
of Credit facility with State Farm Mutual Automobile Insurance Company procured
in 2001.


The Issue, which will be denominated in US dollars, is callable on 24 November
2014 and pays a coupon of 7.11 per cent to give a spread of 295 basis points
over the benchmark ten year US treasury yield.  The Issue is expected to be
rated Baa3 by Moody's and will be listed on the London Stock Exchange.

Amlin is the first Lloyd's insurer to directly access this area of the capital
markets.  Commenting on the Issue, Finance Director Richard Hextall said, 'We
are very pleased with the positive response to the Issue and the continued
support from our banking partners. The Issue is eligible to qualify as
regulatory capital under the regime being introduced by the Financial Services
Authority.  It also diversifies Amlin's funding mix to include longer term debt,
provides us with greater capital management flexibility going forward and
reduces our overall financing costs.'

Credit Suisse First Boston acted as structuring adviser and lead placement agent
and Fox-Pitt, Kelton acted as a selling agent.



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Enquiries:

Richard Hextall, Finance Director                         0207 746 1000
Hannah Bale, Head of Communications                       0207 746 1118
David Haggie/Peter Rigby, Haggie Financial                0207 417 8989





Notes for Editors:

Amlin is a recognised leader in the London insurance and reinsurance market,
providing a global client base with risk management solutions. Amlin has four
business specialisms: Aviation; Marine; UK commercial; and International
property and casualty insurance and reinsurance.  A FTSE 250 quoted company,
Amlin owns 100% of its £1bn capacity for 2004, wholly written through Lloyd's
Syndicate 2001.  The Syndicate is rated 'A' (Excellent) for financial strength
by AM Best and A1 for financial strength by Moody's.





                      This information is provided by RNS
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