Directorate Change

Chesnara plc Directorate Change

1 March 2013

For immediate release

New Non Executive Director

Chesnara plc is pleased to announce the appointment of Mike Evans as a Non Executive Director of Chesnara plc with effect from 4 March 2013. Mike will join the Audit and Risk, Nomination and Remuneration Committees and join the Board of Countrywide Assured plc - Chesnara's UK subsidiary. Mike will also become Senior Independent Director on the retirement of Mike Gordon on 17 May 2013.

Mike Evans is currently non-executive Chairman of Hargreaves Lansdown plc, a FTSE 100 listed company, a position he has held since 2009. He originally joined the Hargreaves Lansdown Board as a Non Executive Director in 2006 and has served on their Nomination and Remuneration Committee and on their Audit Committee. Mike is also a Non Executive Director of CBRE Global Investors Group (UK) and a member of the advisory board of Spectrum Corporate Finance . In addition he chairs the board of trustees of Wessex Heartbeat, a charity associated with cardiac care in Southampton. Mike is a qualified Actuary and served in a number of Director level positions within Skandia UK between 1991 and 2006.

The appointment is subject to approval by the Financial Services Authority.

Peter Mason, Chairman said:

'I am delighted to be able to announce the appointment of someone of Mike's calibre to our Board. He brings extremely valuable experience, knowledge and skills which will, I am sure, be of significant benefit to the Group. We look forward to working with him and benefiting from the contribution he will undoubtedly make.'

Other than his directorship of Hargreaves Lansdown plc, there are no disclosures required pursuant to paragraph 9.6.13R (1) - (6) of the Listing Rules.

Enquiries

Graham Kettleborough

Chief Executive, Chesnara plc - 07799 407519

Michael Henman, Cubitt Consulting - 0207 367 5100

Notes to Editors

Chesnara plc, which listed on the London Stock Exchange in May 2004, is the owner of Countrywide Assured plc ("CA") and Movestic Livförsäkringar AB ('Movestic').

CA is a UK life assurance subsidiary that is substantially closed to new business. In June 2005 Chesnara acquired a further closed life insurance company - City of Westminster Assurance ('CWA')and with effect from 30 June 2006, CWA's policies and assets were transferred into CA. Save & Prosper Insurance Ltd and its subsidiary Save & Prosper Pensions Ltd (together 'S&P') were acquired on 20 December 2010. S&P was closed to new business prior to acquisition and it operates an outsourced business model which is complementary to Chesnara's existing UK operations. With effect from 31 December 2011, the business of S&P was transferred into CA.

Movestic, a Swedish life assurance company which originally focused on pensions and savings, was acquired on 23 July 2009. The company is open to new business and seeks to grow its position in the Swedish unit-linked market. Its proposition was strengthened in February 2010 with the acquisition of the operations of Aspis Försäkringar Liv AB which has a risk and health product bias.