Atrium Underwriting PLC – Interim Results - 18.09.07

Atrium Underwriting PLC announces its financial results for the first six months of 2007.

Financial Highlights

> Profit before tax of £23.8m (30 June 2006: £7.9m)

> Net tangible assets per share increased in period by 21.4p to 209.5p

> No interim dividend due to Ariel offer

Operational Highlights

> Syndicate 570 combined ratio improved to 80% (30 June 2006: 94%) as a result of much reduced foreign exchange impact in comparison with prior year

> Syndicate 609 combined ratio much improved to 66% (30 June 2006: 87%) as a result of favourable claims experience and prior year reserve releases, in
particular in relation to the 2005 hurricane losses

> Commission income generated by managed syndicates increased significantly to £5.6m (2006: £1.8m) as prior year was adversely affected by losses in earlier years

> Ariel offer declared unconditional on 30 August 2007 and cancellation of
company's listing anticipated to take effect from 8 October 2007

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