Acquisition(s)

23 July 2009

                                 Chesnara plc                                  

                  Acquisition of Moderna Försäkringar Liv AB                   

                                  ACQUISITION                                  

Following the publication on 3 July 2009 of a "Class 1" circular for the
purposes of Chapter 10 of the Listing Rules (the "Circular") in connection with
acquisition of the entire issued share capital of Moderna Försäkringar Liv AB,
from Moderna Finance AB, for a total consideration of SEK250 million (the 
"Acquisition"), and the Announcements of 8 July 2009 regarding the receipt of
regulatory approval from the Commissariat aux Assurances (Luxembourg), and 20
July 2009 regarding the approval of the Acquisition by the shareholders of
Chesnara plc ("Chesnara") at the Extraordinary General Meeting held on the same
day, Chesnara is pleased to announce that all conditions precedent to the
completion of the Acquisition have been fulfilled and the Acquisition has,
today, been completed.

For further enquiries, please contact:

Chesnara plc

Graham Kettleborough, CEO
Tel: [phone]

Press

Michael Henman, Cubitt Consulting
Tel: [phone]

Notes to editors:

Chesnara, which listed on the London Stock Exchange in May 2004, is the owner
of Countrywide Assured plc ("CA"). CA is a life assurance subsidiary that is
substantially closed to new business. In June 2005 Chesnara acquired City of
Westminster Assurance ("CWA") for GBP47.8m. With effect from 30 June 2006,
CWA's policies and assets were transferred into CA plc. Chesnara's operating
model is to maintain a relatively small governance team. Chesnara continues to
seek acquisition opportunities in the financial services sector in areas
related to its core life operations.

This announcement does not constitute, or form part of, an offer to sell, or
the solicitation of an offer to subscribe for or buy any securities, nor the
solicitation of any vote or approval in any jurisdiction.