Holding(s) in Company

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Highway Insurance Group Plc

2. Reason for the notification  (please state Yes/No): 

An acquisition or disposal of voting rights: Yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: No

An event changing the breakdown of voting rights: No

Other (please specify): No

3. Full name of person(s) subject to the notification obligation:

Midas Capital plc

4. Full name of shareholder(s) (if different from 3.): See Section 9 below.

5. Date of the transaction (and date on which the threshold is crossed or reached if different):

2 September 2008

6. Date on which issuer notified:

3 September 2008

7. Threshold(s) that is/are crossed or reached:

5%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares 

 if possible using the ISIN CODE

Situation previous to the Triggering transaction 

Resulting situation after the triggering transaction

Number of Shares 

Number of Voting Rights 

Number of shares 

Number of voting rights 

% of voting rights

 Direct

Direct

Indirect 

Direct

Indirect

Ordinary shares

GB 0006561137

10,623,588

10,623,588

6,300,000

6,300,000

N/A

3.08%

N/A

B: Financial Instruments

Resulting situation after the triggering transaction 

Type of financial instrument 

Expiration date

Exercise/ Conversion Period/ Date  

Number of voting rights that may be acquired if the instrument is exercised/ converted. 

% of voting rights

N/A

N/A

N/A

N/A

N/A

Total (A+B)

Number of voting rights

% of voting rights

6,300,000

3.08%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

Proxy Voting:

10. Name of the proxy holder: N/A

11. Number of voting rights proxy holder will cease to hold: N/A

12. Date on which proxy holder will cease to hold voting rights: N/A

13. Additional information: iimia plc, Miton Asset Management Ltd and Midas Capital Partners Ltd are all subsidiaries of Midas Capital plc.

14. Contact name: Helen Craig

15. Contact telephone number: 01392 475972