Mapfre Middlesea plc - Transfer of shareholding

On 27 June Middlesea Insurance plc became aware that Corporacion Mapfre S.A. intends to restructure certain non-spanish investments with the purpose of grouping them in a holding company named Mapfre Internacional S.A., which is fully controlled by Corporacion Mapfre S.A.

Corporacion Mapfre S.A. owns 5,250,000 shares ordinary shares of nominal value 25 cents each of Middlesea Insurance plc (equilvlent to 21% of the issued share capital) under the name of HSBC Bank Malta plc as sub custodian for Bank of New York as custodian for Corporacion Mapfre S.A.

As part of the restructuring exercise, the 5,250,000 shares of a nominal value of 25 cents each held by Corporacion Mapfre S.A. in Middlesea Insurance plc will be transferred to Mapfre Internacional S.A. Such a transfer will be carried out by means of an exchange of shares. Such transfer does not imply a change of control over shares, neither direct or indirect, but a mere change of nominal ownership.

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