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FOR IMMEDIATE RELEASE / 24 March 2006

SBJ Group Limited acquires Orbit Benefits Limited

SBJ Group Limited (“SBJ”), the insurance broking, administration and employee benefits consulting group, is pleased to announce the acquisition, subject to the approval of the Financial Services Authority, of Orbit Benefits Limited, Orbit Interactive Limited, Orbit Protection Limited and TIMA Tools Limited (“Orbit”) from Benfield Holdings Limited (“Benfield”). Consideration was not disclosed.

Orbit implements and runs on-line employee benefits, including total reward statements and flexible benefits, for UK companies using its own internet-based technology. Benfield remains a client of Orbit for the provision of on-line flexible benefits.

“Orbit will bring a new dimension to our already substantial employee benefits consulting business. We are seeing increased demand from clients for the efficient and flexible delivery of benefits to large, often dispersed workforces that Orbit and its technology provide so well. The quality of Orbit's client list is testimony to the skills of its management team and the superiority of the products.”

Peter Gray Chief Executive of SBJ Benefit Consultants

“We are delighted to be joining SBJ, a successful and expanding group that shares Orbit's values of excellence and commitment to clients. By combining Orbit technology with SBJ's breadth of services, we believe this acquisition will position us as one of the providers of choice for clients seeking integrated, on-line benefits solutions in the post A-Day environment.”

Jim Carlton Chief Executive of Orbit

“Our decision to sell Orbit is in line with our policy of focusing activities on our core operations. We wish the team every success for the future, as they embark on the next chapter in their development.”

Grahame Chilton Chief Executive of Benfield

- ENDS -

Notes for editors

SBJ is a UK domiciled top ten corporate insurance broker, administrator and employee benefit consultant. We source our business primarily from mid sized corporate clients and intermediaries and in our last full year turnover was in excess of £63 million. The group has grown significantly over the last five years and we look forward to a period of further substantial growth as consolidation takes place in each of our markets of insurance broking, administration and employee benefit consulting.

SBJ's principal shareholder is Capital Z Financial Services Partners which holds 51% through a Bermudian special purpose vehicle. Management, staff and former staff members hold the remaining 49%. Capital Z is a leading global private equity group focused exclusively on the financial services industry. Since 1990, Capital Z has invested in excess of US$2.1 billion in over fifty transactions and has produced a successful long term track record in these investments.

Press enquiries

Reg Hoare
Smithfield Consultants
020 7360 4900

Peter Gray
SBJ Benefit Consultants Limited
020 7816 2000

Jim Carlton
Orbit Benefits Limited
020 7204 1304