In the High Court of Justice (Chancery Division)

Companies Court No 8318 of 2008

THE PHARMACY MUTUAL INSURANCE COMPANY LIMITED

and

NPA INSURANCE LIMITED

and

In the matter of

Part VII of the Financial Services and Markets Act 2000

NOTICE

NOTICE IS HEREBY GIVEN that on 3 October 2008 The Pharmacy Mutual Insurance Company Limited (“PMI”) and NPA Insurance Limited (“NPAI”) 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 NPAI of the entire insurance business of PMI; 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 business carried on by PMI being carried on by NPAI. The proposed transfer will secure, save as set out in the Scheme, the continuation by or against NPAI of any legal proceedings by or against PMI that relate to rights and obligations in respect of the transferred business. All claims being dealt with before the transfer by PMI will, following the transfer, be dealt with by NPAI. All claims arising after the transfer will be dealt with by NPAI.

The application is directed to be heard before the Companies Court Judge at the Royal Courts of Justice, Strand, London WC2A 2LL on 9 December 2008 and any person (including any employee of PMI or of NPAI) who alleges that he or she would be adversely affected by the carrying out of the Scheme may appear at the time of the said hearing in person or by Counsel. Any person who intends so to appear, and any policyholder of PMI or NPAI or any reinsurer of PMI who dissents from the Scheme but does not intend to appear, is requested to give not less than 14 days prior notice in writing of such intention or dissent, and the reasons therefore, 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 obtained free of charge at www.p-m-i.co.uk or by writing to The Company Secretary, The Pharmacy Mutual Insurance Company Limited, 40-42 St Peter’s Street, St Albans, Hertfordshire AL1 3NP.

DATED this 7th day of October 2008

McClure Naismith LLP

Equitable House

47 King William Street

London

EC4R 9AF

Tel: + 44 (0) 20 7929 3770

Fax:+ 44 (0) 20 7929 3466

Ref: RTS/HED

Solicitors for The Pharmacy Mutual Insurance Company Limited

Charles Russell LLP

8-10 New Fetter Lane

London

EC4A 1RS

Tel: + 44 (0) 20 7203 5000

Fax:+ 44 (0) 20 7203 0200

Ref: SLC/BB/NPA

Solicitors for NPA Insurance Limited