Corporate Action

United Overseas Group PLC
12 July 2001

CAPITAL REORGANISATION
SECURITY TITLE
*Ord Shs
MNEMONIC CODE   *UOG
SEDOL CODE      *918-136
TERMS           *Each Ordinary Share of GBP0.10 will be subdivided into
                 1 Ordinary Share of GBP0.01 and 9 Deferred Shares of
                 GBP0.01
PROVISIONAL EFFECTIVE DATE *31-07-01
NOTES * The effective date for the Capital Reorganisation is subject to approval
at the EGM.