Trenwick Group, Ltd.(fka TWKGQ)

[lifegear]

Motion to Appoint an Equity Committee...

On April 19, 2004 Alexander Arpad filed his motion for appointment of an equity committee.

All three Debtors filed their objection.

Court denied the equity committee motion since the Debtors do not intend to take any action to affect the common and preferred stock. Arpad then agreed claiming that the equity shares will survive.

Page 37 http://www.sidedraught.com/stocks/TRENWICK/LaSalle%20Cover%20Presentation.pdf

I think this is all associated to the Long Term MBO which concluded this year imho. It took a long time to complete since the 2001 year of account of Syndicate 839 was in runoff. No one was willing to do a reinsurance to close for that 2001 year of account til last year when Canopius made a better offer than other parties to do so. Normally a year of account is closed on the 36th month or at the end of three years.

The JPL's also mentioned last year that our principal asset is the 100% voting shareholder interest in LSRH our wholly owned subsidiary to which the economic interest and contingent assets were assigned this year.