Completion of Acquisition of Bupa Health Assurance

1 February 2011

For immediate release

Resolution Limited ("Resolution" or the "Company")

Completion of the acquisition of Bupa Health Assurance Limited

Further to the announcement made on 15 October 2010, Resolution is pleased to announce that the acquisition of the entire issued share capital and business of Bupa Health Assurance Limited by Friends Provident Life and Pensions Limited, a subsidiary life company of Resolution, completed on 31 January 2011.

Enquiries:

Investors/analysts

Neil Wesley, Resolution Operations LLP

+44 (0)20 3372 2928

Media

Alex Child-Villiers, Temple Bar Advisory

+44 (0) 7795 425580

Notes to Editors:

Resolution Limited

Resolution's objective is to acquire businesses and provide the public markets with a series of restructuring opportunities in the financial services industry in the UK and Western Europe. Its current restructuring project is in the UK life and asset management sectors.

The Company's ordinary shares were admitted to the Official List and to trading on the main market of the London Stock Exchange in December 2008. The Company transferred to a Premium Listing as it completed its first acquisition, Friends Provident Group plc, on 4 November 2009 and is subject to those provisions of the Listing Rules that apply to overseas companies with a Premium Listing. The Company announced the completion of its second acquisition, the majority of the AXA UK life business, on 15 September 2010. The acquisition of the shares and business of Bupa Health Assurance Limited, which was announced on 15 October 2010 and completed yesterday, is its third acquisition.

A copy of this announcement is and will be available, subject to certain restrictions relating to persons resident in restricted jurisdictions, for inspection on the Company's website at www.resolution.gg.

For the avoidance of doubt any other information contained on Resolution's website does not form part of this announcement.