Norwich Union shareholders approve proposed merger of Norwich Union and CGU

At the Norwich Union shareholder meetings held on Friday 31 March, Norwich Union shareholders approved the scheme of arrangement to implement the proposed merger of Norwich Union and CGU.

The result of the poll held at the shareholder meeting held at the direction of the Court (the "Scheme Meeting") was as follows:

At the extraordinary general meeting held following the scheme meeting, Norwich Union shareholders approved the special resolution necessary to implement the merger. 91.8% of the shares voted were voted in favour of the special resolution.

At the CGU extraordinary general meeting, the resolutions to approve the proposed merger and related matters were duly passed.

Subject to the sanction of the Court and regulatory approvals, it is expected that the merger will become effective by early June 2000.

Commenting on the result of the meetings, George Paul, chairman of Norwich Union, said: "We are delighted to have gained approval for the merger from our shareholders and I thank them most warmly for their support. We are excited by the opportunities which lie ahead for CGNU and are confident that our shareholders will benefit from them."

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Enquiries:

Analysts
Rebecca Burrows, Norwich Union - 01603 680117

Media
Norwich Union Press Office - 01603 683820

The Directors of Norwich Union accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the Directors of Norwich Union (who have taken all reasonable care to ensure such is the case) the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.