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Accident Exchange (~268)

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Thursday 20 July, 2006

Accident Exchange

AGM trading update

Accident Exchange Group PLC
20 July 2006

FOR IMMEDIATE RELEASE                                            20 July 2006

                          Accident Exchange Group Plc
                        AGM STATEMENT AND TRADING UPDATE

At the Annual General Meeting of Accident Exchange Group Plc (the 'Group') to be
held at 12.00pm today, Chairman Lord Young of Graffham will give the following 
trading update on progress since the start of the current financial year:

'I am pleased to report that referral volumes in the first quarter to date are 
satisfactory with hire starts having increased by almost 90% on the same period 
last year.  We are focussing on improving the productivity of the account wins 
announced at the year end and we continue to negotiate other relationship 
opportunities with dealers, dealer groups and automotive manufacturers.

'The Audi Accident Aftercare service announced recently has now been launched 
into the Audi dealer network.  From a total population of 120 dealers, 75% are 
now contracted or in the process of finalising contract terms with us.  The 
service will be launched to Audi customers by the end of July as planned.

'We are also pleased to report that we have recently agreed a payment protocol 
with a 'Top 3' insurer.  This protocol involves both the basis for communicating
and submitting future credit hire claims to its electronic platform and the 
agreed settlement of the bulk of the existing claims currently outstanding with 
that insurer.

'The DCML business acquired recently is currently performing in line with 
management expectations and we are pleased to announce further growth in our 
customer base following the decision by Dixon Motor Holdings Limited to use our 
software to manage their courtesy car fleet and provide courtesy car insurance 
across their 42 dealerships.  DCML now operates through 1,182 dealer outlets.

'We have an excellent pipeline of potential new referral agreements with leading
motor dealerships and leasing and contract hire companies and also expect to 
strengthen further our relationships with car manufacturers and insurance 
companies over the coming year.  The Board remains confident of achieving a 
further year of strong performance.

'I shall be retiring from the Board at the conclusion of the AGM when David
Galloway (currently our non-executive Deputy Chairman) becomes Non-Executive
Chairman. It has been a pleasure working with David over the last year. He has
already made a considerable contribution to the performance and dynamic of your
Board and it will be his privilege to lead the Group through its next phase of



Accident Exchange Group Plc
Steve Evans, Chief Executive                                    08700-116 719
Martin Andrews, Group Finance Director                          08700-053 649

Steve Liebmann or Simon Bloomfield                              020-7367-8888

About Accident Exchange

Based in Coleshill, West Midlands, Accident Exchange delivers accident 
management and other solutions to automotive and insurance related sectors.  
Quoted on AIM, the stock code is LSE: ACE.

                      This information is provided by RNS
            The company news service from the London Stock Exchange