NU. Nufcor

RNS No 9708h
NORWICH UNION PLC
26 July 1999

NORWICH UNION ACQUIRES BRITISH LIFE IN SPAIN

Norwich Union has entered into a binding agreement to acquire 100 per cent of
British Life, S.A.E. de Seguros sobre la Vida (British Life) from The Scottish
Provident Institution.

At 31 December 1998 British Life had net assets of Ptas 2 billion
(approximately #8 million), with a total premium income in 1998 of Ptas 6.7
billion (approximately #27 million).

Richard Harvey, Norwich Union's group chief executive, said:
"Norwich Union has publicly stated its commitment to the rapidly expanding
Spanish insurance market. Our wholly owned Spanish subsidiary, Plus Ultra, has
developed an excellent range of innovative long-term savings and protection
products and has a highly regarded broker-based distribution network. The
acquisition of British Life, with its strong direct sales force, will
significantly increase our ability to distribute these products throughout
Spain, while providing the opportunity to improve efficiency."

Media enquiries - James Duffell: 01603 680874
Analyst enquiries - Rebecca Burrows: 01603 680117

END

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