Capacity Offer Update

Amlin PLC
30 August 2002


            CAPACITY OFFER DECLARED UNCONDITIONAL AS TO ACCEPTANCES

                                 PRESS RELEASE

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN OR INTO THE UNITED STATES, 
AUSTRALIA, CANADA, JAPAN OR ANY PROHIBITED OR EXCLUDED TERRITORY.



Amlin plc
30 August 2002
FOR IMMEDIATE RELEASE

                                   AMLIN PLC

            CAPACITY OFFER DECLARED UNCONDITIONAL AS TO ACCEPTANCES

Amlin plc is pleased to announce that, by 10.00 a.m. (London time) on 30 August
2002, the first closing date of the offer by Amlin plc, on behalf of Amlin
Corporate Member Limited, for the outstanding Capacity on Syndicate 2001 
('Capacity Offer'), valid acceptances of the Capacity Offer had been received in
respect of £188.45 million of Capacity. This represents approximately 85.0 per
cent. of the outstanding Capacity on Syndicate 2001 not already owned by the
Group. Consequently, the Group now holds or has received valid acceptances in
respect of £766.76 million of Capacity, representing approximately 95.8 per
cent. of the total Capacity on Syndicate 2001.

Accordingly, the Capacity Offer has become unconditional as to acceptances. In
accordance with Lloyd's requirements, the Capacity Offer has been extended and
will remain open for acceptance until 3.00 p.m. (London time) on Monday 16
September 2002.

All the remaining conditions have been satisfied or waived (save for those
relating to listing of the New Amlin Shares on the Official List of the UK
Listing Authority and admission of the New Amlin Shares to the London Stock
Exchange's market for listed securities ('Admission')). Accordingly, subject to
Admission (which is expected to occur on 2 September 2002), the Capacity Offer
has become unconditional in all respects.

Subject to Admission, the Group intends to make an application to the Council of
Lloyd's to effect a minority buy-out in respect of Syndicate 2001 as it now
holds or has contracted to acquire 90% or more of total Capacity.

Charles Philipps, Chief Executive of Amlin plc, commented: 'We would like to
thank our Members for supporting our offer for their Capacity on Syndicate 2001,
and we are delighted to have reached the threshold where we can apply to buy out
the remaining minority capacity on Syndicate 2001.'

Terms used in this announcement have the same meaning as in the Offer Document
dated 2 August 2002 unless the context otherwise requires.

Enquiries:

Amlin
Charles Philipps            Tel: [phone]
Richard Hextall             Tel: [phone]

KPMG Corporate Finance
Richard Barlow              Tel: [phone]

Haggie Financial Limited
David Haggie                Tel: [phone]



The contents of this announcement have been approved by KPMG Corporate Finance
of 8 Salisbury Square, London EC4Y 8BB for the purpose of Section 21 of the
Financial Services and Markets Act 2000.

KPMG Corporate Finance, a division of KPMG LLP which is authorised by the
Financial Services Authority for investment business activities, is acting as
financial adviser to Amlin and as Lloyd's sponsor to Amlin Corporate Member
Limited in relation to the Capacity Offer and is not acting for any other person
in relation to such Capacity Offer. KPMG Corporate Finance  will not be
responsible to anyone other than Amlin or Amlin Corporate Member Limited for
providing the protections afforded to its clients, or for providing advice in
relation to the Capacity Offer or any other matter referred to herein.

The Share Offer, which forms part of the Capacity Offer, is not being made
available to Members who are resident or domiciled outside the United Kingdom or
who are US persons. Such Members (other than Members resident or domiciled in
the Prohibited Territory or in any of the Excluded Territories) may only accept
the Cash Alternative. Neither the Share Offer nor the Cash Alternative is being
made available to Members resident or domiciled in the Prohibited Territory or
in any of the Excluded Territories.

This announcement does not constitute a solicitation, invitation or offer to
persons in the United States or any other jurisdiction where a solicitation,
invitation or offer could be contrary to law. Accordingly, this announcement is
not being, and must not be, mailed or otherwise distributed or sent in, into or
from the United States, (whether by use of the mails or by any means or
instrumentality of interstate or foreign commerce), Canada, Japan or Australia
or the Prohibited Territory or Excluded Territories and persons receiving this
announcement (including custodians, nominees and trustees) must not distribute
or send it in, into or from the United States, Canada, Japan or Australia or the
Prohibited Territory or Excluded Territories.

This announcement has been prepared in accordance with Lloyd's requirements.
Amlin has confirmed to Lloyd's that this announcement complies with the Capacity
Offer Rules. This announcement has not been approved by Lloyd's.

This announcement relates to a Capacity Offer by Amlin, on behalf of Amlin
Corporate Member Limited.  Amlin Underwriting Limited, a wholly-owned managing
agency subsidiary of Amlin, is interested in this Capacity Offer.

Any person who is considering accepting this Capacity Offer should read
carefully the Offer Document relating to the Capacity Offer and the risk factors
set out therein. The Offer Document, which contains details of the Capacity
Offer, has been prepared in accordance with the Capacity Offer Rules and has
been issued in accordance with the Capacity Offer Rules. Copies of the Offer
Document are available from the offices of Amlin at St Helen's, 1 Undershaft,
London, EC3A 8ND. Copies of the Prospectus relating to the issue of shares under
the Capacity Offer are also available from the offices of Amlin at St Helen's, 1
Undershaft, London, EC3A 8ND and, for inspection only, at the Document Viewing
Facility, UK Listing Authority, 25  The North Colonnade, Canary Wharf, London,
E14 5HS.

The Syndicate Business Forecast for the 2003 year of account for Syndicate 2001,
when published, will be available for inspection during normal working hours on
reasonable notice and copies will be available free of charge, to Members,
Members' Agents and MAPA Operators from the date of its publication during
normal business hours on any weekday (excluding public holidays) at the offices
of Amlin whilst the Capacity Offer remains open for acceptance.

The securities to be issued pursuant to the terms of the Capacity Offer may be
illiquid and there may not be a market for them.  The value of securities may go
down as well as up. UK Members who elect in whole or in part for the Share Offer
may not get back all or any of the cash consideration which they would have
received pursuant to the Cash Alternative. The past performance of a share is
not necessarily an indication of its future performance.

This announcement is not an offer of existing Amlin Shares or New Amlin Shares
for sale into the United States or to, or for the account or benefit of, US
persons. The existing Amlin Shares and the New Amlin Shares have not been and
will not be registered under the US Securities Act of 1933 and may not be
offered or sold in the United States, or to or for the account or benefit of, US
persons unless they are registered or exempt from registration. There will be no
public offer of the New Amlin Shares in the United States.



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