Trenwick Group, Ltd.(fka TWKGQ)

[lifegear]

Re: Syndicate 839 $583M in Reserves as of Dec2007...

Upon the winding up of the Oaks' financial affairs, which is not
anticipated to occur prior to 2009, their economic interests, consisting of
profits, if any, from their underwritings, together with any cash held in trust
at Lloyd's to support underwriting activities released to them by Lloyd's, would
be used to repay their creditors, including the LoC Banks, and the Intercompany
Debt, with the remaining amounts, if any, to be payable to LaSalle Re as LSUK's
sole shareholder to the extent permitted under applicable law. In connection
with LSUK's assumption of the Oaks' liabilities to Trenwick and TAC, LSUK has
acquired 100% of the economic interest in the Oaks and 20% of the economic interest in Flinstone Limited (a Corporate Capital Member
formed by Magicsunny to support underwriting at Lloyd's for 2004 and subsequent
years ("Flinstone")). The LSUK Notes, the LSUK Memorandum of Association and the
LSUK Bye-Laws provide for payment to Trenwick and TAC from LSUK to the extent
that funds are received, if any, from each of the Oaks.


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"The only thing necessary for the triumph of evil is for good [people] to do nothing." --Edmund Burke