Petitions to Transfer Business

IN THE HIGH COURT OF JUSTICE

CHANCERY DIVISION

COMPANIES COURT

No: 7559 OF 2004

In the Matter of

GLOBAL GENERAL AND REINSURANCE COMPANY LIMITED

and

In the Matter of

STERLING LIFE LIMITED

and

In the Matter of

THE FINANCIAL SERVICES AND MARKETS ACT 2000

NOTICE

Notice is hereby given that on 8 December 2004 GLOBAL General and Reinsurance Company Limited (“GG and Re”) applied to the High Court of Justice for

1.	an Order under Part VII of the Financial Services and Markets Act 2000 (the “Act”) sanctioning a scheme (the “Scheme”) providing for the transfer to Sterling Life Limited (“Sterling”) of the entire long-term insurance business of GG and Re, known as the Classic Care business; and
2.	an Order making ancillary provision in connection with the implementation of the Scheme under Section 112 of the Act.

The proposed transfer will result in the long term business formerly carried on by GG and Re in the UK being carried on by Sterling. The proposed transfer will secure the continuation by or against Sterling of any legal proceedings by or against GG and Re that relate to rights and obligations in respect of the Classic Care business. All claims in respect of the Classic Care business being dealt with before the transfer by GG and Re will following the transfer be dealt with by Sterling; all claims arising after the transfer will be dealt with by Sterling.

The application is directed to be heard before the Companies Court Judge at the Royal Courts of Justice, Strand, London WC2A 2LL on 28 January 2004 and any person (including any employee of GG and Re or Sterling) who alleges that he or she would be adversely affected by the carrying out of the Scheme may appear at the time of the hearing in person or by Counsel. Any person who intends so to appear, and any policyholder of GG and Re or Sterling who dissents from the Scheme but does not intend so to appear, should give not less than two clear days’ prior notice in writing of such intention or dissent, and the reasons therefor, to the solicitors named below.

Copies of a report on the terms of the Scheme prepared pursuant to Section 109 of the Act (the “Independent Expert’s Report”) and a statement setting out the terms of the Scheme and containing a summary of the Independent Expert’s Report can be accessed at www.globalre.com/ggre-uk/part7classiccare and will be provided free of charge by the solicitors named below.

DATED this 17th day of December 2004

Lovells, Atlantic House, Holborn Viaduct, London EC1A 2FG

Tel: +44 (0)20 7296 2000

Fax: +44(0)20 7296 2001

Ref: C4/TJG

Solicitors for GG and Re