SOURCE: Alea Group Holdings (Bermuda) Ltd

July 06, 2006 02:50 ET

Alea Group Holdings (Bermuda) Ltd. announces Director Declaration

Hamilton, Bermuda -- (MARKET WIRE) -- July 6, 2006 --6 July 2006

                       Alea Group Holdings (Bermuda) Ltd


               Information regarding recently appointed Directors

HAMILTON, Bermuda - (6 July 2006) Alea Group Holdings (Bermuda) Ltd. ("Alea" or "the Group") recently announced the appointment of Mark Cloutier as Chief Executive Officer of the Group, with effect from 1 September 2006. In addition, it was announced that Mark Cloutier and Kirk Lusk, have been appointed to the Board of Directors of the Group, with effect from 1 September 2006.

The current and past directorships held by Mark Cloutier and Kirk Lusk over the past five (5) years are set out below.

Mark Cloutier was President and Chief Executive Officer of Overseas Partner Re when it was placed into members' voluntary liquidation following the distribution of capital in excess of US$1 billion to its shareholders. There are no further details regarding Mark Cloutier which are required to be disclosed under paragraphs (2) to (6) of Listing Rule 9.6.13.

There are no details regarding Kirk Lusk which are required to be disclosed under paragraphs (2) to (6) of Listing Rule 9.6.13.

Mark Cloutier's Current Directorships:

None.

Directorships held in the last five years by Mark Cloutier:

Overseas Partners Limited

Overseas Partners US Re

Overseas Partners Re

Overseas Partner Capital

Overseas Partners Assurance Limited

Quanta Re Bermuda

Union Excess Reinsurance Company

Kirk Lusk's Current Directorships:

None.

Directorships held in the last five years by Kirk Lusk:

Heritage Insurance Group, Inc

Heritage Indemnity Company

GE Capital Management Corp.

GE Capital Warranty Corp.

Westwood Indemnity Company

Heritage Mechanical Breakdown Corp.

Westwood Warranty Company

GE Capital Administrative Services, Inc.

Westlake Insurance Company (Bermuda), Ltd

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For more information on Alea, see www.aleagroup.com. For further information please contact:


Media:                         Sheel Sawhney     +1 860 258 6524
Analysts & Investors:          Kirk Lusk         +1 860 258 6566
 

Financial Dynamics             
Robert Bailhache                +44 20 7269 7200
Nick Henderson                  +44 20 7269 7114               

Certain statements made in this press release that are not based on current or historical facts are forward-looking in nature including, without limitation, statements containing words "believes," "anticipates," "plans," "projects," "intends," "expects," "estimates," "predicts," and words of similar import. All statements other than statements of historical facts including, without limitation, those regarding Alea Group Holdings (Bermuda) Ltd's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to Alea Group Holdings (Bermuda) Ltd's products and services) are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of Alea Group Holdings (Bermuda) Ltd to be materially different form future results, performance or achievements expressed or implied by such forward-looking statements. In particular, forecasting of reserves for future losses is based on historical experience and future assumptions. As a result, they are inherently subjective and may fluctuate based on actual future experience and changes to current or future trends in the legal, social or economic environment. Such forward-looking statements are based on numerous assumptions regarding Alea Group Holdings (Bermuda) Ltd present and future business strategies and the environment in which Alea Group Holdings (Bermuda) Ltd will operate in the future. These forward-looking statements speak only as at the date of the document or other information concerned. Alea Group Holdings (Bermuda) Ltd expressly disclaims any obligations or undertaking to disseminate any updates or revisions to any forward-looking statements contained herein to reflect any changes in Alea Group Holdings (Bermuda) Ltd 's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.


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