WTG.L Regulatory News (WTG)

RNS Not for Release until 7.00 am 15 October 2012

Quindell Portfolio Plc

("Quindell", the "Group", and the "Company")

Agreement with Pinto Potts Solicitors

Quindell Portfolio Plc (AIM: QPP.L), the provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets, being Insurance, Telecommunications and their Related Sectors, is pleased to announce a partnering agreement with Pinto Potts Solicitors ("Pinto Potts") in providing a joint outsourcing offering to the UK insurance claim market, primarily in the areas of personal injury and also other consumer related services including wills, probate, and conveyancing.

In addition, the two firms have now signed an agreement enabling Quindell Legal Services Limited to acquire Pinto Potts ("the Acquisition"), subject to approval from the Solicitors Regulation Authority and the Financial Services Authority. The consideration for the Acquisition will be satisfied by the payment on completion of £1.5 million in cash and a further £1.5 million approximately 12 months from today's date together with the issue on completion of 87,500,000 Quindell shares, which will be subject to lock in arrangements ranging from 12 to 36 months. In return Pinto Potts has warranted a profit after tax of £2 million and operating cash flow of £1.5 million for the 12 and a half month period ending 31 August 2013.

Pinto Potts are litigation specialists, having particular recognised expertise in high value personal injury claims involving the more complex trauma cases including head, spine and other serious injuries. As part of the partnering agreement, Pinto Potts will work alongside Silverbeck Rymer as part of Quindell Legal Services Limited.

Rob Terry, Chairman and Group Chief Executive of Quindell said: "We are delighted to have reached this agreement which represents another key step in the building of our combined insurance outsourcing offering. I would like to welcome both David Pinto and David Potts to the Group where I am sure their industry expertise and experience in the sector will prove to be invaluable as we continue to grow our revenues in the personal injury space, and as we look ahead to 2013 and beyond, into other areas including wills and probate to support our broader service offering for the brands we partner.

With the significant volume of business we already have in pilot, the Board have no doubt that this acquisition will be significantly earnings enhancing from completion and will assist with our ability to scale the business to a level of growth beyond our previously stated plans."

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Notes to Editors:

About Quindell Portfolio Plc

Quindell Portfolio Plc is a provider of sector leading expertise in Software, Consulting and Technology Enabled Outsourcing in its key markets being Insurance, Telecommunications and their Related Sectors.

Quindell joined the market through Mission Capital Plc, now renamed Quindell Portfolio Plc. The Company was readmitted to the market on 17 May 2011 following the acquisition of Quindell Limited prior to the immediate acquisition of Quindell's technology and outsourcing partners. In December 2011, Mobile Doctors Group Plc was acquired increasing 2012 run-rate revenue to over £50 million. On the 1 April 2012, Ai Claims Solutions Plc became a subsidiary of Quindell, increasing run rate revenue to over £150 million.

Our Industry Sectors

In today's digital world the line between traditional industry sectors continues to blur, however the focus on tight service management is common to them all. We believe that excellent customer service, tight cost control and integrated supply chain management is not the prerogative of any single industry sector and with our solutions in multiple industry sectors savings of over 20% against industry norms are being delivered to the bottom line.

Our Solutions

The pressures on an organisation can come simultaneously from multiple directions including the need to add customers, increase wallet share, reduce costs and improve customer satisfaction. At Quindell we have the People, the Processes and the Supply Chains, underpinned by our sophisticated Champion and Challenger Business Process Management Technology Platform and Industry Solutions to help our customers tackle these efficiently and effectively.

With a clear understanding that having the best products and services on offer is not always enough and that getting your customers to use or adopt them is key, effective conversion lies at the core of our unique Champion and Challenger tools and techniques. Using these solutions Quindell has helped its customers achieve sales and service conversion rates ranging from 75% to 90%, way above industry norms. But life does not stand still, and complacency can kill any business, so the embedded Champion and Challenger continual improvement focus of our Learning Solutions is at the heart of all we offer. Using our industry insight and expertise, Quindell takes the holistic view of our client's challenges.

For example, when considering the Insurance industry today where 50% of the cost of an auto claim is associated with Personal Injury, including legal services, medical reporting and rehabilitation, it is clear that an organisation will not be able to achieve the levels of savings and customer satisfaction desired without addressing the injury to the driver as well as the repair of the vehicle. This is why at Quindell we have designed our insurance solutions and supply chains to address the full end to end cycle, with the ability and expertise to treat an injured party as well as repairing their vehicle. This makes Quindell a truly unique and ethically based proposition for the insurance industry today.

Our Customers

Quindell Portfolio's companies have worked with over 2000 brands from Small to Medium Enterprises and Blue-chip organisations around the globe. Today we count a number of the world's top Insurance and Telecommunications blue chip companies within our client base, as well as hundreds of customer centric organisations working in both the distribution and supply of their services.

Our award winning Business Transformational, Software, Consulting and Outsourcing Solutions are recognised as delivering significant savings and additional sales to our customers every year.