RNS Number:2916M
Benfield Group Limited
13 June 2003

13 June 2003

Stabilisation Notice

Dear Sirs

Offering (the "Offering") of up to 62,786,590 common shares of #0.01 each at the
price of 250 pence per common share ("Common Shares") of Benfield Group Limited
(the "Company") (with an over-allotment option of up to 9,417,988 New Common
Shares)

Merrill Lynch International ("MLI") notifies you that it is the stabilising
manager and may conduct stabilising activities in relation to the Common Shares,
ISIN: BMG0985D1039 ("the Common Shares") and in connection with the above
transaction. MLI confirms the following:


 1. The securities to be stabilised are the Common Shares (ISIN: BMG0985D1039)
    referred to above; no other associated securities are subject to
    stabilisation;

 2. The stabilising manager is Merrill Lynch International (contact: John Millar/
    Mark Gwynne- Telephone: 020 7995 3700);

 3. The stabilisation period is expected to commence at 8.00 am on 13 June and
    ends on 18 July 2003 inclusive (30 days after the Closing Date);

 4. The issue price of the Common Shares was calculated on 12 June and is
    expected as announced at 7.00 am on 13 June 2003.

Stabilisation/FSA


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