Wellington Syndicate 2020 Result - 6.3.08 Amended

Catlin has confirmed that the Syndicate 2020 result is a profit of 0.1% (previously the range was -7.5% to -2.5%). The cash call of 15% or $190m made in June 2006 can therefore be repaid (subject to excange rate). At the time of the cash call Wellington's estimated result was a loss of -12% to -23%.

The 2006 Account has improved from 15.5% mid point to a 20.9% mid point and a release is being made of 11.25%.