WTG.L Regulatory News (WTG)

For immediate release

Quindell Plc

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

Further Update on Premium Listing

Quindell 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 today providing a further update on its proposed move to a Premium Listing on the Main Market.

As previously announced, the Company's advisers have been engaged regarding a move to the Premium List of the Main Market. Considering the significant growth of the Group in recent years the Company has today been advised that it has not been able to satisfy Listing Rule 6.1.3 at this time, and particularly, the criteria in Listing Rules Guidance Note 6.1.3E (5) which states that an applicant may not be eligible if its business has undergone a significant change in its scale or operations during the period of the historical financial information, being the last three years' audited accounts.

The Company and its advisers continue to believe that the Premium List is the optimum UK market for the Company and will continue to seek a listing on this market as soon as practicable. The Company will also continue to explore other options, including listing in North America.

Rob Terry, Founder and Executive Chairman of Quindell said: "Firstly, I would like to take this opportunity to apologise to shareholders, who will no doubt be as disappointed as the Board are at hearing this news. This is in no way reflective of the success of fundamental performance of the business. Quindell's relationships with customers and partners remain exceptionally positive, with a number of initiatives being undertaken in new territories and relationships in existing territories continuing to expand.

Our outsourcing Services Division continues to grow and perform extremely well with our planned improvements to operating cash flow remaining on track. The long term growth potential of telematics for the Group's Solutions Division continues to exceed our expectations with a significant number of new clients now live and the percentage of consumers opting for a telematics solution, when available, in North America significantly exceeding our previous guidance. A more detailed trading update will be provided at the time of our AGM.

Regrettably it is Quindell's success and change of scale of its operations during the last three years that is a core reason for the Group not being deemed to be eligible for a Premium Listing at this time. Quindell has significantly expanded its business into new areas of opportunity, which has resulted in a business employing over 4,000 people today globally and has organically created approaching 1,500 jobs in the UK making Quindell one of the largest employers in a number of areas of the country. The Board will continue to investigate all options whilst not being distracted from continuing to deliver a market leading return on capital employed and EPS growth for our shareholders."

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About Quindell Plc

Quindell Plc is a provider of sector leading expertise in software, consultancy and technology enabled outsourcing in its key markets being insurance, telecommunications and their related sectors. Quindell enters 2014 with a run rate of gross sales approaching £600 million and approaching £200 million of EBITDA, and has announced new contract wins since the start of 2014 that amount to a further £500+ million due to start during 2014. Our award winning business transformational, software, consultancy 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