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Kiln PLC (KIN)

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Friday 01 October, 2004

Kiln PLC

Re hurricane season

Kiln PLC
01 October 2004

Effect of the 2004 Hurricane Season

As a specialist underwriter of property insurance, catastrophe reinsurance and
offshore energy risks, Kiln's Syndicates have been exposed to the underwriting
losses caused by the highly unusual incidence of windstorm losses that have
affected the USA, the Caribbean and Japan during the last quarter.

An initial review of the impact of these losses (Hurricanes Charley, Frances,
Ivan and Jeanne and Typhoon Songda) has now been carried out; in the absence of
any major catastrophic loss during the remainder of the year and on the basis of
currently available information, we estimate that the impact of these losses on
Kiln plc's profit before tax for the 2004 financial year will be in the range of
£10m to £15m.

On the 9th September 2004, Kiln plc announced record interim profits of £24.7m
before tax.

Notwithstanding the effect on Kiln plc's 2004 result, it is our view that these
losses will reinforce the need for continued global underwriting discipline in
Kiln's specialist areas of business, and the prospect of future sustained
profitability is therefore improved as a result of these losses.  Kiln is
determined to continue to position itself to take full advantage of the current
market conditions.

                                                           Friday 1 October 2004


Kiln plc                                                      Tel: 020 7886 9000
Edward Creasy, Chief Executive Officer
Peter Haynes, Chief Financial Officer

College Hill                                                  Tel: 020 7457 2020
Tony Friend
Catherine Cook

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