Mapfre Middlesea plc - Acquisition of shares in Progress Assicurazioni SpA

Progress Assicurazioni SpA issued euro 4,000,000 worth of shares of a nominal value of euro 0.01 each fully paid up. Middlesea Insurance plc was allotted euro 3,599,200 from this issue leaving its shareholding in Progress Assicurazioni unchanged at 89.98%. These shares were allotted on 29 December 2006 to existing shareholders on a pro rata basis.