WTG.L Regulatory News (WTG)

Embargoed for release 7.00 am 14 November 2012

Quindell Portfolio Plc

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

Equity placing and additional banking facility secured to raise working capital to circa £80 million

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 that it has concluded its recent funding discussions and has increased available working capital to circa £80 million through a combination of the issue of new equity, existing headroom on working capital facilities and the agreement of additional banking facilities to support its growth beyond the Board's 2 pence EPS target for 2013.

£20.0 million has been raised through the placing today of 153,846,153 ordinary shares of 1p each ("Placing Shares") at a price of 13p (the "Placing Price") per Placing Share (the "Placing") with a major new institutional investor. This placing is in addition to the £26.5 million placing of shares to existing and new institutional shareholders, also at 13p per share, announced by the Group on 2 November 2012.

This strategic investment in Quindell has been made following the successful conclusion of an intensive period of due diligence incorporating the investor's own research into the Group and the markets in which it operates, as well as a number of discussions and meetings with insurance industry commentators and experts and a series of meetings with the Group's executive management team.

Having worked closely with the team at Royal Bank of Scotland plc ("RBS") over an extended period, the Group has also now received credit committee approval for an initial £13.0 million of additional banking facilities from RBS, subject to final documentation. The Group is continuing its discussions with its bankers on a broader consolidation of its banking facilities, which incorporates its existing £32 million of drawn down facilities, approximately £20 million of undrawn existing facilities and the additional the £13 million facility announced today.

The Company intends to use the proceeds from the Placing and its additional banking facilities to fund its working capital requirements for the significant organic growth in relation to the contracts for which it has received verbal confirmations and/or entered into full contract and thereby support its growth beyond the Board's 2 pence EPS target for 2013.

Rob Terry, Chairman and Group Chief Executive of Quindell said: "I am delighted that this major new institutional investor has demonstrated their significant support for Quindell through the Placing. This, combined with the newly agreed working capital facilities will provide Quindell, in combination with our existing unused banking facilities, with funding of approximately £80 million to support organic growth significantly beyond our stated 2p EPS target for 2013. The Group is continuing to see unprecedented opportunities for organic growth in what is a unique time in the UK insurance industry's evolution. Having this additional working capital will enable us to capitalise on this opportunity to obtain significant market share and further enhance our positioning in the market."

Application has been made for the 153,846,153 Placing Shares to be admitted to trading on AIM. Admission of the shares is expected to occur on 19 November 2012. Following Admission, Quindell will have 3,308,721,488 ordinary shares in issue. The Company has no ordinary shares held in treasury. The total of 3,308,721,488 ordinary shares may therefore be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.

For further information:

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.

For further information, please visit www.quindell.com