Alliance

Coventry Building Society
28 July 2000


                       MORE CHOICE FOR COVENTRY CUSTOMERS

Coventry Building Society, the sixth largest in the UK, has announced that it is
to offer its customers a wider choice of products and services as an Appointed
Introducer of CGU Life.

In response to customer demand for a wider range of financial services, the
Society is entering into a partnership with CGU Life, to offer products
regulated under the Financial Services Act.

The partnership, which will be fully operational by January 2001, will involve
CGU Life Consultants being located in many of the Coventry's 50 branches.
These consultants will operate as members of each branch team, to maintain the
high level of service for which the Coventry is renowned.

Commenting on the decision to offer regulated products, Martin Ritchley, Chief
Executive of the Coventry said:

'Coventry Building Society already offers some of the most competitive        
mortgage and savings products, but we have become increasingly aware of the
demand from our customers for a broader range of products, many of which are
regulated under the Financial Services Act. I believe that our customers should
have access to these products in a way that is convenient to them.


'We chose CGU Life after a careful selection process for the excellence of their
product range, their financial strength and considerable experience in the
operation of Introducer arrangements. We aim to work together to build upon the
established relationships we have with our customers and bring further benefits
to them.'

Welcoming the deal CGNU Director of Partnerships Douglas Ballantyne said:

'We are delighted to be able to develop our existing relationship with the
Coventry Building Society. The new partnership will enable us to work together
even more closely to develop a wide and competitive range of products for the
Society's customers, using our considerable expertise and full knowledge of the
market place.'


Editor's Notes

CGU and Norwich Union merged on 30 May 2000 to create CGNU plc - the world's 6th
largest insurer, the UK's largest insurance group and one of the top-five life
insurers in Europe with substantial positions in other markets around the world.

From October, the combined life and pensions, general insurance and retail fund
businesses in the UK will operate under the Norwich Union brand, while the
institutional business will operate under the Morley FundManagement brand.


For more information or additional comment please contact
Yvonne White, Media Relations Manager on 024 76 653653 or 07774 836490 (out of
hours)

E-mail: [e-mail]
Website: www.coventrybuildingsociety.co.uk