In the High Court of Justice (Chancery Division)

Companies Court No 2554 of 2005

In the Matter of

ALLIANZ CORNHILL INSURANCE PLC

and

In the Matter of

BRITANNIC UNIT LINKED ASSURANCE LIMITED

and

In the Matter of

Part VII of THE FINANCIAL SERVICES AND MARKETS ACT 2000

Notice is hereby given that, on Tuesday 19 April, an Application was presented to Her Majesty’s High Court of Justice by Allianz Cornhill Insurance plc ( “Cornhill” ) and Britannic Unit Linked Assurance Limited ( “Britannic” ) pursuant to Part VII of the Financial Services and Markets Act 2000 ( “FSMA” ) for an Order:

1.	under section 111 of FSMA sanctioning a scheme for the transfer to Britannic of the long-term business (as defined in FSMA) carried on by Cornhill (the “Scheme” ); and
2.	making ancillary provision in connection with the Scheme pursuant to section 112 of FSMA.

A copy of a report on the terms of the Scheme prepared by an Independent Expert (in accordance with section 109 of FSMA) (the “Scheme Report” ) and a statement setting out the terms of the Scheme and containing a summary of the Scheme Report will be provided by Cornhill and Britannic, free of charge, to any person requiring them by contacting the telephone number set out in the Schedule. Alternatively you can access these documents via the Internet. For the web address please refer to the Schedule below.

The Application is directed to be heard before a Judge of the Chancery Division Companies Court, at the Royal Courts of Justice, Strand, London, WC2A 2LL, England on 25 July 2005.

If you have any questions or concerns relating to the proposed changes, please contact the telephone number or, if you would prefer, please write to the appropriate address set out in the Schedule.

Any person who believes that he or she will be adversely affected by the carrying out of the Scheme is entitled to attend (in person or by legal representative with advocacy rights) and be heard by the High Court at the hearing of the application. If you do intend to attend the hearing, we would be grateful if you could contact our legal advisers in order that we can be clear on attendee numbers, as soon as possible and ideally before 18 July 2005. Please contact Herbert Smith LLP, the solicitors acting for Britannic, as named below

Herbert Smith LLP of Exchange House, Primrose Street, London, EC2A 2HS (Ref. 2067), Solicitors for Britannic.

The Schedule

Allianz Cornhill Insurance plc, 57 Ladymead, Guildford, Surrey GU1 1DB

Britannic Unit Linked Assurance Limited, 1 Wythall Green Way, Wythall, Worcestershire B47 6WG

Britannic Asset Management Limited, Britannic Court, 50 Bothwell Street, Glasgow G2 6HR

Telephone: 08451 440000 between 8.30am and 5.30pm (Monday to Friday)

Documents can be viewed at www.britannicgroup.com