Interim Management Statement

RNS Number : 7203U
Alea Group Holdings(Bermuda) Ltd
19 May 2008

19 May 2008

Alea Group Holdings (Bermuda) Ltd
Interim Management Statement for the period from 1 January 2008 to today's date

HAMILTON, Bermuda - Alea Group Holdings (Bermuda) Ltd. ("Alea" or "the Group") issues this Interim Management Statement in accordance
with the Financial Services Authority's Disclosure and Transparency Rules.
Performance during the period

Reported insurance and reinsurance claims to date are generally in line with our current reserving assumptions as Alea continues the
orderly run-off of its balance sheet.

Operating expenses to date are in line with expectations. Alea continues to seek ways to scale its operating costs in line with its
reducing liabilities and total assets.

Investment performance on the Group's invested assets has also been in line with expectations. As disclosed in the Group's Annual
Financial Report for the year ended 31 December 2007, the Group continues to evaluate shifts in its asset mix and duration. Accordingly,
under the oversight of the Group's investment committee and managers, the Group has initiated a shift to increase its asset weighting in
high quality mortgage-backed securities.

There have been no significant changes in the financial position of the Group since the revised announcement on 10 March 2008 of the
Group's preliminary results for the year ended 31 December 2007.

Significant events in the period

As previously disclosed, Alea London Limited commuted a large excess of loss reinsurance contract on 11 January 2008, effective 31
December 2007. In addition, the Group prepaid its outstanding bank loans on 14 January 2008. Other than the details provided in the
relevant notes to the Group's Annual Financial Report for the year ended 31 December 2007, these events have had no further significant
effect on the financial position of the Group.

During the period, the Group announced that Mr Kirk Lusk had tendered his resignation from his positions as Group Chief Financial
Officer and Chief Operating Officer and as a director of Alea and of each of its subsidiaries of which he was a director, effective 31 March
2008. Mr Carl Speck was appointed Interim Group Chief Financial Officer, effective 31 March 2008.

Financial Calendar

The Group's Annual General Meeting is scheduled for 19 June 2008. The Group expects to announce its results for the six months ending 30
June 2008 on 27 August 2008 (provisional date).

For further information, please contact:

Mark Cloutier
+1 441 296 9150

Sheel Sawhney
+1 860 258 6524

Financial Dynamics

Robert Bailhache
Nick Henderson
+44 20 7269 7114

Past performance cannot be relied upon as a guide to future performance.

Certain statements made in this document that are not based on current or historical facts are forward-looking in nature including,
without limitation, statements containing words "believes," "anticipates," "plans," "projects," "intends," "expects," "estimates,"
"predicts," and words of similar import. All statements other than statements of historical facts including, without limitation, those
regarding the Group's financial position, business strategy, plans and objectives of management for future operations (including development
plans and objectives) are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and
other important factors that could cause the actual results, performance or achievements of the Group to be materially different from future
results, performance or achievements expressed or implied by such forward-looking statements. In particular, forecasting of reserves for
future losses is based on historical experience and future assumptions. As a result, they are inherently subjective and may fluctuate based on actual future experience and changes to current or future
trends in the legal, social or economic environment. Such forward-looking statements are based on numerous assumptions regarding the Group's
present and future business strategies and the environment in which the Group will operate in the future. These forward-looking statements
speak only as at the date of this document or other information concerned. Alea Group Holdings (Bermuda) Ltd expressly disclaims any
obligations or undertaking (other than reporting obligations imposed on us in relation to our listing on the London Stock Exchange) to
disseminate any updates or revisions to any forward-looking statements contained herein to reflect any changes in the Group's expectations
with regard thereto or any change in events, conditions or circumstances on which any such statement is based. References in this paragraph
to the Group are to Alea Group Holdings (Bermuda) Ltd and its subsidiaries from time to time.

This information is provided by RNS
The company news service from the London Stock Exchange

END

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