OXYGEN INSURANCE BROKERS

PRESS RELEASE

OXYGEN INSURANCE BROKERS

London, 9th February 2008 – Oxygen Insurance Brokers Ltd (Oxygen) has announced the opening of a new office in Glasgow by its UK Corporate Risks Practice.  The opening is a response to the growth in Scottish commercial insurance business, and is also the first location of the Practice’s new specialist Mergers & Acquisition (M&A) team.

The existing portfolio of Scottish commercial clients, previously serviced from UK Corporate Risks’ Leeds office, will now be supported directly from the new office. These clients, and all new commercial businesses, benefit from the Practice’s transparent, time-costed, fee based approach.

From the Glasgow office, UK Corporate Risks will provide advice and insurance placing services across the full spectrum of corporate insurance products including property, liability, professional indemnity and Directors’ & Officers’.  The new M&A team will provide due diligence and insurance transaction services for the corporate finance community across the UK.

The new office is managed by Ian H. Smith and Jim Rutherford.  Ian joined Oxygen from roles with Aon and Willis where he gained experience in handling a range of clients from mid-market business to multi subsidiary blue-chip companies.  Jim Rutherford joins Oxygen from Aon, where he was a director in the Mergers & Acquisition Group.

Commenting on the opening of the office in Glasgow, Nigel Barton, Chief Executive Officer, Oxygen, said: “In recent years, we have developed an important Scottish account and this move demonstrates our commitment to building on this further. We have the expertise, combined with our distinct business model, to support corporate businesses of varying sizes across Scotland, right in the heart of the market.”

Speaking on the setting up of the M&A team, Barton, said: “We are delighted to have Jim on board. His knowledge and experience of developing insurance and risk management programmes for the investment and M&A community will enable us to offer tangible benefits and targeted, professional support.”

ENDS

Notes to editors:

Oxygen’s office in Scotland is based at:

The Beacon

176 St. Vincent Street

Glasgow, G2 5SG

Off: +44 (0) 141 249 6813

Fax: +44 (0) 141 249 6700

ian.smith@oxygeninsurance.com

jim.rutherford@oxygeninsurance.com

Oxygen Insurance Brokers (OIB) is part of the Oxygen group of companies which include Oxygen Insurance Managers, Robertson Taylor Insurance Brokers and CRS Yachts. OIB is a Lloyd’s Broker and is authorised and regulated by the Financial Services Authority.

OIB provides a range of broking and risk management services through a distinct business model.  The UK Corporate Risks division serves medium to large corporate clients on a professional services platform wherein all services are charged on a transparent time-costed fee basis.  The Specialist Risks Division consists of a number of dynamic specialist broking teams providing highly expert advice in complex and niche areas of risk management and insurance.