CGNU - South African GI Sale

CGNU PLC 15 August 2000 CGNU SOUTH AFRICAN GENERAL INSURANCE BUSINESS SALE Following the announcement of 30 June 2000, the terms have been agreed for the sale of CGNUs 51% stake in its South African general insurance business, CGU Holdings Ltd ('CGUH'), to Mutual & Federal Insurance Company Limited. Based on 50,000,000 CGUH shares in issue, the offer price is R24.12 per CGUH share. This represents a premium of 56% to the weighted average closing price of R15.49 per CGUH share over the 30 trading days leading up to the 30 June 2000. Enquiries: Investors/Analysts Steve Riley, Investor Relations Director, CGNU plc +44(0)20 7662 8115 Media Alex Child-Villiers, Financial Dynamics +44(0)20 7269 7107 Notes to Editors CGNU plc is the UKs largest insurance group and the worlds sixth largest insurer based on gross worldwide premiums. The group was created from the merger of CGU and Norwich Union on 30 May 2000.

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