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Pearl agrees three-week extension to Resolution deal with FSA

Pearl and the FSA have agreed on a revised timetable for the Resolution acquisition deal to be completed which extends the deadline by three weeks.

The extension is to allow Pearl to finalise discussions with the FSA regarding
the timing of post-completion distributions of capital from the Resolution life
companies.

If no further time is required then the acquisition is expected to be effective in mid-March 2008.

Originally, the date for completion was set at February 18.

The revision to the timetable will not affect the 720p in cash per Resolution share due to shareholders under the terms of the acquisition.


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