Admiral Group plc sells AdmiralDirekt

Further to the announcement made on 7 December 2010 regarding entering into exclusive discussions, Admiral Group plc ("the Group") confirms that it has now sold AdmiralDirekt, the Group's car insurance operation in Germany, to Itzehoer Versicherung.  The value of the gross assets disposed of is £4.4m (€5.2m). The insurance contracts generated by AdmiralDirekt and underwritten by the Group in 2011 will be fully reinsured by Itzehoer. It is intended to transfer the insurance contracts for 2011 and prior years to Itzehoer subject to Court and Regulatory approval. The Group remains focused on continuing the profitable growth of its UK operations and on building profitable, growing, sustainable businesses in Spain, Italy, USA, and France. For further information, please contact: Admiral    029 2043 5528 Alistair Hargreaves Financial Dynamics    020 7269 7114 Nick Henderson This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Admiral Group PLC via Thomson Reuters ONE [HUG#1477565]