AP93 Barclays 29

RNS Number:4271Y
Wellington Underwriting PLC
15 June 2007



15 June 2007



                  Wellington Underwriting plc (the "Company")

Change of name and Capital Reduction and Reduction of the Share Premium Account

The Company announces that it has, as part of a group re-organisation following
the acquisition of the Company by Catlin Group Limited, re-registered from being
a public company to a private company, having met the requirements of Section 53
of the Companies Act 1985 (as amended) and changed its name to Catlin
Underwriting Limited on 6 June 2007.

The Company further announces that, subject to the passing of the resolutions
described below, it is intended that the Company be re-registered as an
unlimited company.

The special resolution to re-register as a private company was passed at an
Extraordinary General Meeting held on 6 June 2007 and the shareholders of the
Company will today vote by way of written resolutions on whether the Company be
re-registered as an unlimited company and in connection therewith change its
name to Catlin Underwriting (the "Re-Registration").

Following the proposed Re-Registration it is intended that the Company reduces
its share capital to #100 and reduces its share premium account to nil (the "
Capital Reduction").  Following completion of the proposed Re-Registration and
Capital Reduction, the Company will maintain sufficient net assets to meet its
obligations under the listed subordinated loan notes issued by the Company (the
"Loan Notes"). The Loan Notes will remain listed on the Official List of the
Financial Services Authority.

The reduction of capital will not be subject to court approval as the Company
will be an unlimited company at the time the members vote on the reduction of
capital and share premium account proposals.

Subject to the passing of the resolutions, the Company will adopt a new
memorandum of association and articles of association to reflect the proposed
changes.

A further announcement will be made shortly to report on the passing of the
shareholders resolutions.



                                      END




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