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Britannic PLC (FLG)

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Monday 11 October, 1999

Britannic PLC

Stmnt Re Press Speculation

11 October 1999

                         Britannic plc ('Britannic')
Recent press speculation regarding a possible offer for United Assurance Group
plc ('United Assurance')

Britannic notes the recent press speculation relating to a possible offer for
United Assurance.

Britannic  and  United Assurance operate in closely related  fields  and,  as
might  be  expected, from time to time Britannic reviews  whether  or  not  a
combination with United Assurance would create additional shareholder  value.
Britannic would only pursue an offer for United Assurance if it was satisfied
that it was in the interests of Britannic's own shareholders.

Contact details:

Paula Nadim  Tel. 01564 828 888

Citigate Dewe Rogerson
Anthony Carlisle  Tel. 0171 638 9571