ALLOT: INS: Issue of securities

28 May 2010 11:43 am

INS 28/05/2010 ALLOT

REL: 1143 HRS Insured Group Limited

ALLOT: INS: Issue of securities

28 May 2010

Market Announcement - Insured Group Limited (INS)

Issue of securities

Insured Group Limited (INS) hereby advises that it has today issued 69,929,583 ordinary shares in the company in accordance with the takeover offer made for all the shares in Australian Consolidated Insurance Limited (ACIL).

The shares were issued on the completion of the compulsory acquisition process under the Corporations Act 2001 (Cth.), to those ACIL shareholders who did not accept the takeover offer before the closing date.

As a result of the allotment INS now holds 100% of ACIL's shares.

Pursuant to NZSX Listing Rule 7.12.1, INS provides the following additional information:

(a) Class of security and ISIN: Ordinary shares NZAHLE0001S7 (b) Number issued or acquired: 69,929,583 (c) Issue price: NZ$0.01196 per share (d) Payment in cash: No (e) Amount paid up: Paid up in full at NZ$0.01196 per share (f) Percentage of total class of securities issued: 4.651% (g) Reason for the issue: Pursuant to the takeover of ACIL approved at the meeting of shareholders held on 10 March 2010 (h) Specific authority for the issue: Shareholder resolution passed at the meeting of shareholders held on 10 March 2010 (i) Terms or details of the issue: Shares issued on the terms set out in the notice of meeting for the meeting of shareholders held on 10 March 2010 (j) Total number of securities of the class in existence after the issue: 1,503,653,284 (k) Date of issue: 28 May 2010

Trevor Jacobs Director and Company Secretary Insured Group Limited End CA:00195492 For:INS Type:ALLOT Time:2010-05-28:11:43:40

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