Palace Capital Regulatory News (PCA)

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Leo Insurance Services PLC

2. Reason for the notification   (please tick the appropriate box or boxes)

An acquisition or disposal of voting rights 

X

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An event changing the breakdown of voting rights

Other (please specify): Previously notified holding

3. Full name of person(s) subject to the notification obligation:

The Directors' Dealing Investment Trust PLC

4. Full name of shareholder(s) (if different from 3.):

HSBC Global Custody Nominees Ltd (a/c designation 866379)

5. Date of the transaction (and date on which the threshold is crossed or reached if different):

17 Nov 2009

6. Date on which issuer notified:

18 Nov 2009

7. Threshold(s) that is/are crossed or reached:

Under 14%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares 

 if possible using the ISIN CODE

Situation previous to the Triggering transaction 

Resulting situation after the triggering transaction

Number of Shares 

Number of Voting Rights 

Number of shares 

Number of voting rights

% of voting rights

Direct

Direct

Indirect 

Direct

Indirect

Ordinary Shares

GB00B0NN1H91

1,312,476

1,002,476

13.89%

B: Financial Instruments

Resulting situation after the triggering transaction 

Type of financial instrument 

Expiration date

Exercise/ Conversion Period/ Date 

Number of voting rights that may be acquired if the instrument is exercised/ converted. 

% of voting rights

Total (A+B)

Number of voting rights

% of voting rights

1,002,476

13.892 % of class

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable 

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:

15. Contact telephone number: