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Accident Exchange (~268)

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Wednesday 20 February, 2008

Accident Exchange

Holding(s) in Company

Accident Exchange Group PLC
20 February 2008


Form TR-1 with annex. FSA Version 2.1 updated April 2007

+----------------------------------------+
|For filings with the FSA include the    |
|annex                                   |
|                                        |
|For filings with issuer exclude the     |
|annex                                   |
+----------------------------------------+

+-----------------------------------------------------------------------------+
|TR-1: Notifications of Major Interests in Shares                             |
+-----------------------------------------------------------------------------+

+-----------------------------------------------+------------------------------+
|                                               |Accident Exchange Group PLC   |
|                                               |                              |
|1. Identity of the issuer or the underlying    |                              |
|issuer of existing shares to which voting      |                              |
|rights are attached:                           |                              |
+-----------------------------------------------+------------------------------+
|                                                                              |
|                                                                              |
|2. Reason for notification (yes/no)                                           |
+--------------------------------------------------------------------+---------+
|                                                                    |         |
|                                                                    |         |
|An acquisition or disposal of voting rights                         |Yes      |
+--------------------------------------------------------------------+---------+
|                                                                    |         |
|                                                                    |         |
|An acquisition or disposal of financial instruments which may result|No       |
|in the acquisition of shares already issued to which voting rights  |         |
|are attached                                                        |         |
+--------------------------------------------------------------------+---------+
|                                                                    |No       |
|                                                                    |         |
|An event changing the breakdown of voting rights                    |         |
+--------------------------------------------------------------------+---------+
|                                                                    |         |
|                                                                    |         |
|Other (please specify):______________                               |         |
+---------------------------------------+----------------------------+---------+
|                                       |Sanlam Universal Funds PLC            |
|                                       |                                      |
|3. Full name of person(s) subject to   |- Sanlam Global Best Ideas            |
|notification obligation:               |  Fund                                |
|                                       |                                      |
|                                       |- Sanlam Global Financial Fund        |
|                                       |                                      |
|                                       |                                      |
+---------------------------------------+--------------------------------------+
|                                       |                                      |
|                                       |                                      |
|4. Full name of shareholder(s) (if     |                                      |
|different from 3):                     |                                      |
+---------------------------------------+--------------------------------------+
|                                       |8% crossed on 18 February 2008        |
|                                       |                                      |
|5. Date of transaction (and date on    |                                      |
|which the threshold is crossed or      |                                      |
|reached if different):                 |                                      |
+---------------------------------------+--------------------------------------+
|                                       |20 February 2008                      |
|                                       |                                      |
|6. Date on which issuer notified:      |                                      |
+---------------------------------------+--------------------------------------+
|                                       |8%                                    |
|                                       |                                      |
|7. Threshold(s) that is/are crossed or |                                      |
|reached:                               |                                      |
+---------------------------------------+-------+--------------------+---------+
+------------------------------------------------------------------------------+
|8: Notified Details                                        -                  |
+------------------------------------------------------------------------------+
|A: Voting rights attached to shares                                           |
|                                                                              |
|                                                                              |
+---------+-------------------+------------------------------------------------+
|Class/   |Situation previous |Resulting situation after the triggering        |
|type of  |to the triggering  |transaction                                     |
|shares   |transaction        |                                                |
|         +---------+---------+---------+--------------------+-----------------+
|If       |Number of|Number of|Number of|Number of voting    |Percentage of    |
|possible |shares   |voting   |shares   |rights              |voting rights    |
|use ISIN |         |rights   |         +---------+----------+-------+---------+
|code     |         |         |         |         |          |       |         |
|         |         |         |         |         |          |       |         |
|         |         |         |         |Direct   |Indirect  |Direct |Indirect |
+---------+---------+---------+---------+---------+----------+-------+---------+
|GB00B00LL325                                                                  |
|                                                                              |
|          5,753,418 5,753,418 6,040,749 6,040,749              8.4%           |
+------------------------------------------------------------------------------+
|                                                                              |
+---------+---------+---------+---------+---------+----------+-------+---------+
+---------+---------+---------+---------+---------+----------+-------+---------+

+------------------------------------------------------------------------------+
|B: Financial Instruments                                                      |
|                                                                              |
|                                                                              |
+------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction                          |
|                                                                              |
|                                                                              |
+--------------+---------------+---------------+----------------+--------------+
|Type of       |Expiration date|Exercise/      |No. of voting   |Percentage of |
|financial     |               |conversion     |rights that may |voting rights |
|instrument    |               |period/date    |be acquired (if |              |
|              |               |               |the instrument  |              |
|              |               |               |exercised/      |              |
|              |               |               |converted)      |              |
+--------------+---------------+---------------+----------------+--------------+
|              |               |               |                |              |
|              |               |               |                |              |
|              |               |               |                |              |
+--------------+---------------+---------------+----------------+--------------+



+-----------------------------------------------------------------------------+
|Total (A+B)                                                                  |
|                                                                             |
|                                                                             |
+--------------------------------------+--------------------------------------+
|Number of voting rights               |Percentage of voting rights           |
+--------------------------------------+--------------------------------------+
|6,040,749                             |8.4%                                  |
+--------------------------------------+--------------------------------------+

+-----------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and /or  |
|the financial instruments are effectively held, if applicable:               |
+-----------------------------------------------------------------------------+
|Sanlam Universal Fund PLC                                                    |
+-----------------------------------------------------------------------------+

+-----------------------------------------------------------------------------+
|Proxy Voting:                                                                |
|                                                                             |
|                                                                             |
+--------------------------------------+--------------------------------------+
|10. Name of proxy holder:             |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|11. Number of voting rights proxy     |                                      |
|holder will cease to hold:            |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|12. Date on which proxy holder will   |                                      |
|cease to hold voting rights:          |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+

+--------------------------------------+--------------------------------------+
|13. Additional information:           |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|14 Contact name:                      |Emic Sham                             |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|15. Contact telephone name:           |+27 21 950 2960                       |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+


For notes on how to complete form TR-1 please see the FSA website.

Note: Annex should only be submitted to the FSA not the issuer

+-----------------------------------------------------------------------------+
|Annex: Notification of major interests in shares                             |
+-----------------------------------------------------------------------------+



+-----------------------------------------------------------------------------+
|A: Identity of the persons or legal entity subject to the notification       |
|obligation                                                                   |
+--------------------------------------+--------------------------------------+
|Full name                             |Sanlam Universal Funds PLC            |
|                                      |                                      |
|(including legal form of legal        |                                      |
|entities)                             |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|Contact address                       |2a Parkview House                     |
|                                      |                                      |
|(registered office for legal entities)|Beech Hill Road                       |
|                                      |                                      |
|                                      |Dublin 4                              |
|                                      |                                      |
|                                      |Ireland                               |
+--------------------------------------+--------------------------------------+
|Phone number & email                  |353-1-205-3512                        |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|Other useful information              |                                      |
|                                      |                                      |
|(at least legal representative for    |                                      |
|legal persons)                        |                                      |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+

+-----------------------------------------------------------------------------+
|B: Identity of the notifier, if applicable                                   |
+--------------------------------------+--------------------------------------+
|Full name                             |Emic Sham                             |
|                                      |                                      |
|                                      |                                      |
+--------------------------------------+--------------------------------------+
|Contact address                       |Sanlam Investment Management          |
|                                      |                                      |
|                                      |55 Willie van Schoor Avenue           |
|                                      |                                      |
|                                      |Bellville                             |
|                                      |                                      |
|                                      |7530                                  |
|                                      |                                      |
|                                      |South Africa                          |
+--------------------------------------+--------------------------------------+
|Phone number & email                  |+27 21 950 2960                       |
|                                      |                                      |
|                                      |emics@sim.sanlam.com                  |
+--------------------------------------+--------------------------------------+
|Other useful information              |                                      |
|                                      |                                      |
|                                      |                                      |
|                                      |                                      |
|(e.g. functional relationship with the|                                      |
|person or legal entity subject to the |                                      |
|notification obligation)              |                                      |
+--------------------------------------+--------------------------------------+

+-----------------------------------------------------------------------------+
|C: Additional information                                                    |
+-----------------------------------------------------------------------------+
|                                                                             |
+-----------------------------------------------------------------------------+




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