WTG.L Regulatory News (WTG)

RNS Release Embargoed until 7.00 am 2 April 2012

Quindell Portfolio Plc

("Quindell" or the "Company")

47.7% Investment in Ai Claims Solutions PLC takes ownership to 77.6%

Quindell Portfolio Plc (AIM: QPP.L), the brand extension company and a leading practice provider of consultancy, software and outsourcing in its key markets, is pleased to announce that the Company has today acquired a further 47.7% of Ai Claims Solutions PLC (AIM:ACS.L) ("Ai Claims"), one of the UK's leading outsourcers for the management of motor claims, taking its holding to approximately 77.6%. Quindell is also announcing today a mandatory cash offer with share alternative for Ai Claims.

29,070,146 shares, representing approximately 47.7%, in aggregate, of the issued share capital of Ai Claims, were acquired today (the "Acquisition") from the shareholders listed in the table below (and their respective related parties) in exchange for cash of approximately £3.1 million (based on 24 pence per Ai Claims share) and the issue by Quindell of 50,369,001 new ordinary shares of 1 pence each in the Company ("Ordinary Shares"). Of the new Ordinary Shares issued, 25,487,574 were issued at a ratio of 3.2 new Quindell shares for each Ai Claims share, with the new issued Quindell shares subject to 12 month lock-in restrictions, and the remaining 24,881,427 were issued at a ratio of 3 new Quindell shares for each Ai Claims share, with the new issued Quindell shares subject to 12 month orderly market restrictions.

Note 1: Including shares of the respective related parties of the Ai Claims Shareholders named in column (1)

Note 2: Quindell Shares issued credited as fully paid up at 8p per share, representing par plus a premium of 7p per share, and subject to lock-in restrictions for 12 months from date of issue

Note 3: Quindell Shares issued credited as fully paid up at 8p per share, representing par plus a premium of 7p per share, and subject to orderly market restrictions for 12 months from date of issue

For the year ended 30 June 2011, Ai Claims had profits of £2.7 million and in the six months to 31 December 2011, Ai Claims made profits of £0.9 million. As at 31 December 2011, Ai Claims' net assets were £19.0 million.

As a result of the Acquisition, Quindell is obliged to make a mandatory cash offer with share alternative to acquire the entire issued (and to be issued) share capital of Ai Claims not already owned by the Quindell Group, the details of which are also being announced today, (the  "Offer Announcement"). The Acquisition was made with the consent of the board of Ai Claims conditional on the making of the Offer Announcement.

Application has been made for the 50,369,001 Ordinary Shares of 1 penny each to be admitted to trading on AIM. Admission of the shares is expected to occur on 10 April 2012. Following Admission Quindell will have 2,629,038,924 Ordinary Shares in issue.

Rob Terry, Chairman and Chief Executive of Quindell said: "We are delighted to be announcing this latest investment and offer for the remaining 22.4% of Ai Claims. Now that Ai Claims is a subsidiary of Quindell we will continue to lower the cost of claims for the insurance industry, and work with major insurers, looking to offer them the choice of a combined accident management, credit hire, legal services and medical services solution that will be unique in the UK market place, or of taking individual services according to their specific requirements."

For further information:

Notes to Editors:

About Quindell Portfolio Plc

Quindell, the Brand Extension Company, helps its clients and partners to utilise their brands enabling them to achieve greater sales, provide better service and extend the brand into new product offerings and alternative routes to market.

The Group works with over 2,000 brands from SMEs to blue-chips around the globe, with solutions applying to the following Sectors & related Supply Chains:

·; Telecoms, Utilities, Retail & E-commerce

·; Finance, Insurance, Health & Legal

·; Government & Public Sector

Quindell Portfolio joined the market through Mission Capital Plc. The Group was readmitted to the market on 17 May 2011 following the acquisition of Quindell Limited. On 18 July 2011, the Company was renamed Quindell Portfolio Plc. In December 2011, Mobile Doctors Group Plc was acquired increasing run-rate revenue to over £50 million and staff levels to over 600 including our off-shore capability.

Our Solutions

In addition to extending our clients' brands, Quindell's solutions are focused on generating improvements in efficiency and effectiveness in sales and service transactions with savings of over 20% against industry norms achieved.

Our Consultancy drives the business transformation for our clients, and is supported by leading edge technology, outsourcing, membership schemes and social media via repeatable solutions.

Our Software provides cloud based industry solutions to deliver the necessary framework to meet online, office and field based sales and service expectations of our clients and their customers.

Our "Sales" Technology Enabled Outsourcing leverages our own Business & Home Advisory Service brands to provide a White Labelled proposition for partners to extend into offerings for Telecoms, Utilities, Finance, Insurance, Health and Legal Services.

Our "Service" Technology Enabled Outsourcing covers a broad range of solutions and in insurance, is already recognised as a market leader for independent medical evidence via a panel of circa 2,500 medical experts providing circa 11% of reports for UK Personal Injury claims.

For further information, please visit www.quindell.com