Charles Taylor Regulatory News (CTR)

9 May 2008 12:00

Charles Taylor Consulting PLC09 May 2008 For immediate release 9 May 2008 Charles Taylor Consulting plc AGM, Interim Management Statement Today's interim management statement for the period 1 January 2008 to 9 May 2008is made in accordance with the UK Listing Authority's Disclosure andTransparency Rules. Management division The largest member of the Standard family of P&I clubs is expected to reportrecord reserves and continues to attract significant new members. Enteredtonnage stood at a new record high of 73m gt on 20 April. Signal memberspayrolls for the first quarter show good growth on the same period in 2007, butas previously reported the performance of the business continues to be impactedby the improvement in members' claims records and the US Dollar. As far as ourPublic Sector initiatives are concerned, the judgement in RMP v The LondonBorough of Brent, whilst affecting Brent's membership of the London AuthoritiesMutual Limited, it will not have a material impact on the long-term prospects ofthe UK Government's shared services agenda. Your company intends to continue todevelop further initiatives in the sector. The company expects to havecompleted its withdrawal from the management of discretionary mutuals by the endof the month and it is pleasing to note that year to date results show amaterial improvement on the same period last year. Adjusting division The division as a whole has started the year with a reasonable level ofinstructions. In the Energy business, Houston office continues to perform welland new instructions for the London office could provide some significant workfor the remainder of the year. Non Marine has received some notableinstructions and remains busy, as do several of the Marine offices. However,the first quarter has been quieter for Aviation hull adjusting instructions andthe level of claims activity for the US Light Aviation business remains subdued. Run off division There is more activity within LCL Acquisitions than there has been for sometime, although as yet this has not resulted in any new business for thisdivision. Summary Overall, the year-to-date financial position and performance of the groupremains sound and is consistent with management's expectations. For further information, please contact:John Rowe, Chief Executive020 7759 4900john.rowe@ctcplc.com NOTES TO EDITORS 1. Charles Taylor Consulting ("CTC") provides management and insurance-related services to both buyers of insurance and insurance companies. The group's activities are subject to the insurance cycle, albeit in different ways. Further information on the group can be found at www.charlestaylorconsulting.com. 2. CTC intends to announce its interim results for the six months ending 30 June 2008 on 29 August 2008. 3. This statement is based on information sourced from management accounts. 4. Statements made in this announcement that look forward in time or that express management's beliefs, expectations or estimates regarding future occurrences are "forward-looking statements" within the meaning of the United States federal securities laws. These forward-looking statements reflect the Group's current expectations concerning future events and actual results may differ materially from current expectations or historical results. This information is provided by RNS The company news service from the London Stock Exchange