Syndicate Forecast

Beazley Group PLC
03 June 2003

3rd June 2003

                                Beazley Group Plc
                               Syndicate Forecast


Beazley Furlonge, the Lloyd's managing agency owned by Beazley Group plc 
('Beazley'), confirms that the forecast results of its managed Lloyd's Syndicate 
623 in respect of the 2001 and 2002 years remain unchanged.

The forecast for 2001 remains breakeven, with the estimate for the World Trade
Center loss remaining at £100m gross and £20m net.  The 2002 forecast remains a
preliminary estimate and as there is still significant business on risk, this
forecast assumes a normal loss development pattern and no significant catastrophes.

Year of Account       Current Estimate       Previous Estimate       Capacity

2001                  (2.5)% - 2.5%          (2.5)% - 2.5%           £215.3m
2002                  10.0% - 15.0%          10.0% - 15.0%           £403.0m

As announced in December, from 1 January 2003 Beazley Furlonge has managed both
Syndicate 623 and Syndicate 2623 as a single underwriting unit, with a combined
capacity of £660m.

For further information, please contact:

Beazley Group plc      Tel: [phone]
Andrew Beazley
Arthur Manners
Nicholas Furlonge

Finsbury               Tel: [phone]
Melanie Gerlis         
Anthony Silverman





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