RNS Number:2354T
Cox Insurance Holdings PLC
12 December 2003

12 December 2003


                           COX INSURANCE HOLDINGS PLC

                  STATEMENT RE TRIBUNE RISK & INSURANCE SERVICES


Cox Insurance Holdings Plc ("Cox" or "the Group") has today issued a statement
in relation to Tribune Risk & Insurance Services Limited ("Tribune"), a Scottish
insurance broker which is not part of Cox, which was placed into provisional
liquidation by the Financial Services Authority on 10 December 2003.

Cox has two relationships with Tribune through its premium finance subsidiary,
Can Do Finance Limited ("Can Do").   Its principal relationship is with
individual customers who were introduced to Can Do by Tribune.  In addition, Can
Do has a smaller direct relationship with Tribune.  Taken together, it is
currently estimated that this situation could lead to an impact on pre-tax
profits of up to #4.5m in the current financial year.  Significant steps are
being taken to mitigate the impact for Cox and for Tribune customers of Can Do,
as described below.

Cox is in discussions with Can Do's bankers with regard to any consequences of
this situation.

Provisional Liquidators have been appointed to Tribune, who estimate that 40,000
individuals may have taken out household insurance policies with Tribune which
are ineffective or invalid.  Can Do has some 26,000 outstanding loans with
customers of Tribune, a proportion of which may have been taken out to finance
the purchase of Tribune policies.

Cox is actively seeking to minimise the loss of business to the Group and, in
particular, to mitigate any inconvenience suffered by Tribune customers by
working with its managed insurance vehicle, Equity Red Star, to offer insurance
policies to affected customers of Can Do.   This would result in the potential
exposure being reduced, and a further statement will be made in due course.

Cox has the support of the Provisional Liquidator and the British Insurance
Brokers' Association in taking these actions.


                                    - Ends -


For further information, please contact:

Hogarth Partnership Limited                               020 7357 9477
Rachel Hirst                                       mobile: 07767 323423
John Olsen                                         mobile: 07770 272082


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