General Acc Interim Rslts,etc

CGNU PLC
2 August 2000


INFORMATION FOR GENERAL ACCIDENT PREFERENCE SHAREHOLDERS


GENERAL ACCIDENT PLC AND SUBSIDIARY COMPANIES
Unaudited results for the six months ended 30 June 2000


These results are published for the benefit of preference shareholders of
General Accident plc, whose shares have remained listed following the merger
of the Company with Commercial Union plc in June 1998 to form CGU plc (CGU).
CGU merged with Norwich Union plc in May 2000 to form CGNU plc.

Our worldwide life and savings business made excellent progress in the half
year, as well as achieving a number of significant new distribution
agreements. Our general insurance business results were disappointing,
reflecting late notified claims from the December 1999 storms in France and an
increase in large claims. We continue to take the necessary steps to improve
profitability. Against a difficult background, negotiations continue to
achieve a sale of the Company's US general insurance business.



Summarised consolidated profit and loss                           Restated
account                                           Unaudited      Unaudited
                                                6 months to    6 months to
                                               30 June 2000   30 June 1999
                                                         £m             £m
                                                                          
                                                                          
Statutory results

Net premiums written                                  9,123          8,953
                                                    -------        -------
                                                                          
Profit on ordinary activities before taxation           504            120

Tax on profit on ordinary activities                  (205)           (59)

Minority interests                                      (5)           (13)
                                                    -------        -------
                                                                          
Profit attributable to shareholders                     294             48

Preference dividends                                   (11)           (11)

                                                    -------        -------
Profit attributable to equity shareholders              283             37
                                                    =======        =======



Summarised balance sheet                                          Restated
                                                  Unaudited      Unaudited
                                               30 June 2000   30 June 1999
                                                         £m             £m
                                                                          
                                                                          

Total assets                                        118,491        109,538
                                                    =======        =======
                                                                          
Equity shareholders' funds                           10,830         10,035

Non-equity shareholders' funds and minority             512            473
Interests
Technical provisions and other liabilities          107,149         99,030

                                                    -------        -------
Total liabilities                                   118,491        109,538
                                                    =======        =======


Summarised cash flow statement                    Unaudited     Unaudited
                                                6 months to   6 months to
                                               30 June 2000  30 June 1999
                                                         £m            £m
                                                                         
                                                                         

Net cash (outflow)/inflow from operating               (39)           219
activities
                                                                         
Net cash outflow from other activities                (577)         (489)

Net sales of investments                                596           144

                                                    -------       -------
Decrease in cash holdings                              (20)         (126)
                                                    =======       =======


The unaudited interim results have been prepared on the basis of accounting
policies set out in the CGU Group's 1999 Annual Report and Accounts, as
modified to align the embedded value assumptions used by CGU plc and Norwich
Union plc onto a common basis. This has led to an increase in shareholders'
funds at 30 June 1999 of £80m. The requirements of FRS 16 'Current Tax' have
been implemented in respect of the half year 1999 results, reducing profit on
ordinary activities before taxation, and taxation, by £6m in both cases.

The unaudited results of CGNU plc for the six months ended 30 June 2000 are
available on application to the Group Company Secretary, CGNU plc, St.
Helen's, 1 Undershaft, London EC3P 3DQ.



Enquiries: Peter Foster, Group Finance Director, CGNU  020 7662 2007