Press Release August 2010

d.16/08 - 2010

Alpha Insurance A/S increases its capitalization by 150 million DKK to more than 450 million DKK (or more than 75 million USD).

Today, Chairman of the Board, Jens Erik Christensen, and Managing Director, Morten Helge, have announced that Alpha Holding A/S will increase the capitalization of its main insurance subsidiary, Alpha Insurance A/S, by 150 million DKK. This brings the insurance company's total capitalization in excess of 450 million DKK (or 75 million USD), allowing the company to sustain the growth and profitability it has shown since its formation in 2005, with annual growth rates in excess of 20%, and still enabling the company to present a strong balance sheet, meeting all standards within the insurance industry.

"We are very pleased with this vote of confidence and recognition of our strong performance and additional growth potential", says Managing Director of Alpha Insurance A/S, Leif Corinth-Hansen. "During the past five years we have been able to increase our top and bottom line, as well as our capitalization, building on retained earnings only. This capital injection will allow us to continue to grow and innovate and to provide our Norwegian subsidiary Nemi Forsikring AS with the necessary support and capital to further develop as a main player in the Norwegian market place".

Alpha Holding A/S and Alpha Insurance A/S are both part of the Alpha Group, which also consists of the Norwegian insurer Nemi Forsikring AS and the Swedish insurer COSA Försäkrings AB. The controlling shareholding of the Alpha Group remains with three original founders, Bo Lundqvist, Leif Corinth-Hansen and Morten Helge.

For further information contact: Bo Skifting, C.F.O. and Deputy C.E.O.