Kiln Reorganisation - 26.06.07

Kiln made the following Stock Exchange announcement recently, which is also attached.

"Following the successful redomicile of Kiln to Bermuda and the formation of Kiln Ltd, the new ultimate holding company, Kiln has taken the opportunity to review its management structure to reflect the new organisation.

The board of Kiln Ltd is responsible for the strategic direction and overall management of the Kiln Group. Edward Creasy will become Group Chief Executive Officer, Peter Haynes Group Chief Financial Officer based in Bermuda and Robert Chase will become Group Director of Underwriting.

In parallel, Charles Franks is to be appointed Chief Executive Officer of R J Kiln & Co Limited, which manages the company's four syndicates at Lloyd's and its related non-Bermuda interests internationally. He is to be succeeded as Active Underwriter of the Kiln Syndicate 510 Marine & Special Risks division by Paul Culham with Peter Merton as his deputy.

Andrew Carrier, active underwriter of Syndicate 557 and the reinsurance division of Syndicate 510, has decided to leave Kiln. He will be succeeded by David Huckstepp, who has been deputy underwriter since 2000. Matthew Wilken will be appointed as deputy underwriter.

These appointments, together with other related R J Kiln & Co Limited board appointments, will be effective from 16 July 2007. All appointments are subject to the relevant regulatory approvals being obtained.

Nick Cosh, chairman of Kiln Ltd commented: 'Kiln has made significant progress in the last year and this reorganisation will ensure we have the right structure to continue to take the business forward and deliver against our strategy.'

Edward Creasy, Kiln Group Chief Executive Officer commented: 'This reorganisation supports both the long term strategic development of the Kiln Group and the successful management of its operating companies. Charles is an experienced market operator with 24 years in the market, 14 of which have been with Kiln; he is well placed to take R J Kiln forward into its next phase.'

On the departure of Andrew Carrier, Edward Creasy added: 'Andrew has been a highly successful underwriter at Kiln for many years; we are sorry to see him go and wish him well. David Huckstepp has been at Kiln for almost 19 years and Matthew Wilken for 16 years, so I am confident that Kiln's leading position in the reinsurance market remains as strong as ever.'