Press Release: Top management changes at Thomas Miller

9 December 2008

Mr. Fenton, who has been with Thomas Miller since 1997, is a former Chief Operating Officer of Thomas Miller P&I which manages the UK P&I Club. He has led the recent restructuring of the TT management operation and will be responsible for implementing its future business strategy. Mr Fenton commented that "The recent turmoil in financial markets has underlined the need for stability, continuity and quality of service which the Club has successfully achieved over the past 40 years".

Mr. Neagle has been involved with the TT Club's management in various roles since he joined Thomas Miller in 1981. After 10 years as Director of Underwriting, he was appointed as the Club's first Chief Executive in 1999. He has served on the Board of the Club's UK subsidiary company since June 2004.

He takes on his new role at "an exciting time in the development of Thomas Miller Investment" following its recent acquisition of a significant portfolio of business from Singer & Friedlander in the Isle of Man.

He explained: "My first priority in my new role will be to ensure that our 300 plus new clients are happy in their new environment. Once we are certain of this, we will be actively seeking further opportunities to grow this business, which is a strategic growth area for the Thomas Miller Group."

Thomas Miller Investment was originally founded to manage the funds of Thomas Miller managed mutual insurance clubs. Today, more than half its funds totaling $3.7 billion, are managed for clients unconnected with the clubs.

Thomas Miller is a boutique insurance services business managing some of the biggest and most important insurance mutuals in the marine and logistics sector, including the UK P&I Club and the TT Club. It also manages a number of professional indemnity insurance mutuals and other specialist insurance captive and agency businesses. Founded in 1884, Thomas Miller has a long tradition and reputation for service. It employs over 580 people worldwide and has offices on four continents.

www.thomasmiller.com

The TT Club is the international transport and logistics industry's leading provider of insurance and related risk management services. Established in 1968, the Club's membership comprises ship operators, ports and terminals, road, rail and airfreight operators, logistics companies and container lessors. As a mutual insurer, the Club exists to provide its policyholders with benefits, which include specialist underwriting expertise, a world-wide office network providing claims management services, and first class risk management and loss prevention advice.

www.ttclub.com

For further information please contact:

Ian Lush, Marketing Director, TT Club

Tel: +44 (0)20 7204 2642

E-mail: ian.lush@thomasmiller.com

www.ttclub.com

Media contact:

Peter Owen, ISIS Communications

Tel: +44 (0)1737 248300

E-mail: info@isiscomms.com

www.isiscomms.com