Press Release March 2009

d.03/03 - 2009

Alpha Group of Denmark has today entered into an agreement regarding the acquisition of the shares in NEMI Forsikring ASA. (PDF 48 KB)

Alpha Group has entered into an agreement with Tryggingamidstodin hf
regarding the acquisition of 100% of the shares in NEMI Forsikring ASA.
The agreement is conditional upon necessary public clearances and approvals, including the approval from the Financial Supervisory Authority of Norway and Denmark, the Norwegian Ministry of Finance and the Norwegian Competition Authorities.

Jens Erik Christensen, chairman of the board of Alpha Holding A/S states: "The acquisition of Nemi Forsikring ASA fits well within our group and adds underwriting skills and strong broker contacts which combined with the existing skills and resources of our Group will build a new strong insurance alternative in Scandinavia. With the inclusion of Nemi Forsikring ASA the Alpha Group will have total assets in excess of 400 million Euro and generate more than 200 million Euro in annual premiums."

About NEMI Forsikring ASA
NEMI Forsikring is a multiline and niche oriented general insurance company offering a broad spectrum of insurances. The company also offers customized solutions to larger companies, institutions and municipalities. The company's headquarters are located in Oslo, Norway, with a branch in Bergen, Norway. The company is licensed to offer insurance coverage in all classes of business except for credit and guarantee coverage.

About Alpha Group
The Alpha Group was formed in 2005 as an independent and privately held specialty insurer focusing on insurance solutions and capacity for independent agents and brokers and specialty insurance program business in the European market through its main subsidiaries Alpha Insurance A/S and Gaia Insurance A/S both based in Copenhagen.
The Alpha Group companies hold all non-life insurance licenses and write actively in all EU and associated countries.
Contact: Bo Skifting, C.F.O.