Directorate Change

12 May 2014

Gable Holdings Inc.

("Gable", "the Company" or "the Group")

Board Changes

Appointment of Jost Pilgrim as NED

Lucas Slob steps down as NED

Gable Holdings (AIM: GAH.L), the European non-life insurance company, announces the appointment of Jost Pilgrim as Non-Executive Director with immediate effect and Lucas Slob steps down from the Board as a Non-Executive Director.

Jost Pilgrim is a member of the Board of Gable Insurance AG, a wholly-owned subsidiary of Gable Holdings Inc., and is a co-founder of NEUE BANK AG, based in Vaduz, Principality of Liechtenstein, an owner-managed private banking organization established in 1992 of which he is a former Vice Chairman and presently Honorary Member of the Board. Jost (aged 76) commenced his business career in 1957 and has more than fifty years of experience in international banking and finance. During his professional life he has held various assignments at staff and management level at Dresdner Bank AG, Bayerische Hypotheken-und Wechsel-Bank AG and Banque Paribas, both abroad and in Germany. Prior to setting up NEUE BANK AG, Jost was a member of the Executive Management Board of Bank in Liechtenstein AG from 1982 to 1990. Current directorships: Gable Insurance AG and Quantum Life AG. Past Directorship in last 5 years: NEUE BANK AG.

There are no other disclosures required in relation to Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for Companies.

Lucas Slob steps down from the Board as a Non-Executive Director and the Company would like to thank Lucas for his counsel to the Board and contribution to Gable during his tenure as Non-Executive Director over the last 5 years.

Commenting, William Dewsall, Chief Executive, said: "I am delighted that Jost has joined the Gable Holdings board, particularly as the Company embarks on its next stage of growth as we continue to expand our territories in Europe. Jost has worked with the Gable management team from its inception and brings with him enormous experience having worked at the highest levels in the European financial arena for many years. Our very best wishes to Lucas and our thanks for his contribution to the Board and Gable."

Ends.

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About Gable Holdings Inc

Gable is a European non-life insurance company underwriting a comprehensive range of specialist policies for the commercial sectors in Denmark, France, Germany, Italy, the Netherlands, Norway, Spain, Sweden and the UK. Gable benefits from a low-cost online underwriting platform and the Company has continued to successfully grow its business geographically whilst simultaneously exploiting a range of niche insurance segments which exist across the EU. Gable Holdings Inc. is quoted on the London Stock Exchange's AIM market (ticker: GAH.L GAH.LN). For further information please visit www.gableholdings.com.