LEO Leo Ins

RNS Number:9618J
Leo Insurance Services PLC
14 December 2007

Leo Insurance Services plc ("Leo" or the "Company")

14 December 2007

Trading Statement

Leo Insurance Services plc announces that Grafton Insurance Services Ltd.
("Grafton"), a brokerage specialised in property insurance, has been informed by
Bizspace that it is planning to transfer its insurance services. The Bizspace
contract is one of two long term contracts amongst Grafton's portfolio of
clients. Bizspace, a subsidiary of Highcross plc, has made this decision after a
business reorganisation, leaving Bizspace purely as the property manager.

Although Grafton has made a renewed offer to retain this contract Grafton
believes that it is unlikely to do so and, if it does, that it will likely be on
less favourable terms than the current contract. The Bizspace contract provided
approximately 27% of revenues of Grafton in the 6 months period ending 31 July
2007.

As shareholders should be aware, Grafton is Leo's only investment at present and
is fully consolidated in the Company's accounts.

The potential loss of the Bizspace contract does not affect the long term
contract Leo has with Safeland Plc, the prospects for which remain strong,
particularly after the raising of new funds for further acquisitions announced
in September.

Contacts:

Leo Insurance Services plc
Paul Davis
Tel: 020 8815 1600


Landsbanki Securities (UK) Limited
Thilo Hoffmann
Tel: 020 7426 9000




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