Lindsey Morden Group Inc.

Lindsey Morden Group Inc.

March 24, 2005 07:12 ET

Lindsey Morden Sells European Automotive Surveying Business


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: LINDSEY MORDEN GROUP INC.

TSX SYMBOL: LM.SV

MARCH 24, 2005 - 07:12 ET

Lindsey Morden Sells European Automotive Surveying
Business

TORONTO, ONTARIO--(CCNMatthews - March 24, 2005) - Lindsey Morden Group
Inc. (TSX:LM.SV) today announced that its subsidiary, Cunningham Lindsey
Europe b.v., has agreed to sell its Dutch subsidiary Cunningham Lindsey
TES b.v. a company providing surveying and claims management services
for the automotive sector primarily in the Netherlands, Belgium and
France. The sale represents an exit for Lindsey Morden from these
activities in these territories.

The transaction is expected to close March 31, 2005, subject to
satisfaction of customary closing conditions, and is expected to result
in a net realized gain to Lindsey Morden of approximately C$ 3.7 million
in the first quarter. The impact on Lindsey Morden's ongoing results is
not expected to be material.

Jan Christiansen, President and CEO of Lindsey Morden said: "This
transaction will allow our European subsidiary to focus even more on
strengthening their position as a leading claims services provider."

This press release contains "forward-looking statements" within the
meaning of applicable securities legislation. Such statements involve
certain risks, assumptions, uncertainties and other factors that may
cause actual results or anticipated events to differ materially from
those expressed or implied herein. These factors include the extent to
which the transaction described above will reduce the otherwise
anticipated costs of restructuring the United States operations. Lindsey
Morden disclaims any intention and undertakes no obligation to update or
revise any forward-looking statements to reflect subsequent information,
events, results, circumstances or otherwise. Readers should not place
undue reliance on forward-looking statements.

Lindsey Morden Group Inc. is a holding company which, through its
subsidiaries, provides a wide range of independent insurance claims
services, including claims adjusting, appraisal and claims and risk
management services. It has a worldwide network of branches in Canada,
the United States, the United Kingdom, continental Europe, the Far East,
Latin America and the Middle East. Lindsey Morden also provides claims
adjusting and appraisal training courses in the United States.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Lindsey Morden Group Inc.
    Jan Christiansen
    President and Chief Executive Officer
    (416) 596-8020