OXYGEN HOLDINGS

PRESS RELEASE

TOM BINKS APPOINTED CHAIRMAN OF OXYGEN

London, 19th February 2008 – Following  his appointment as executive chairman of Northern Rock, Ron Sandler has resigned from the board of Oxygen Holdings plc (Oxygen). He is replaced as non-executive chairman by Tom Binks.

Tom Binks, an existing non-executive director, is a banker of many years experience, having worked at Manufacturers Hanover Limited, Standard Chartered and Bank of America. In 2005 he joined IPGL Limited, a private holding company of which Michael Spencer, Chief Executive of ICAP plc, is the major shareholder.

Commenting on Ron Sandler's contribution to the business, Nigel Barton, chief executive officer of Oxygen said: “We are sad to say good-bye to Ron. His support and guidance, in the early days of Oxygen, was of immense value.  He helped the business grow from one employee in 2004 to over 150 employees today.  We wish him well in his new role.”

ENDS

Notes to editors:

Oxygen Holdings is the holding company for the Oxygen group of companies which include Oxygen Insurance Brokers, Oxygen Insurance Managers and Robertson Taylor Insurance Brokers. All companies authorised and regulated by the Financial Services Authority.