Investment in digital insurance brand Ingenie

RNS Release 07:00 on 21 July 2011

Quindell Portfolio Plc

("Quindell" or "the Company")

Investment in digital insurance brand Ingenie

The Board of Quindell Portfolio Plc (AIM: QPP.L), is pleased to announce that the Company has made an investment in Ingenie Limited ("Ingenie"), the new insurance brand for drivers aged 17 to 25. Ingenie will redefine how car insurance works, using advanced telematic technology and social media to offer customers a new proposition. Ingenie is an exisiting technology and consultancy client of the Company.

The investment, representing 3% of the committed issued share capital of Ingenie, has been agreed to be acquired in exchange for £75,000 in cash, the issue of 5,000,000 1 pence Ordinary Shares in the Company valued at £150,000 based on 3 pence per share and certain discounts being applied to consulting work up to first live transaction date of the Ingenie system, which is anticipated to be later in 2011. This 3p share price represents a 21% premium to the admission price of the Company on 17 May 2011. The Quindell shares are subject to a six month lock-in arrangement as well as orderly market provisions.

Commenting on the investment Rob Terry, Chief Executive Officer of Quindell said: "I am very pleased to announce this investment today which will see us continuing our close working relationship with Ingenie. Their application of technology, which uses our business process management framework, online 'Learning Solution' and our consulting support in combination with telematic technology, will enable Ingenie to offer a product to their customers that we believe will prove to be game-changing to both the insurance companies and their policyholders. The experience within the Ingenie team and the partners involved fill us with confidence that, by 2013, Quindell's return on this investment will prove to be extremely value enhancing."

Application has been made for the 5,000,000 1 pence Ordinary Shares to be admitted to trading on AIM. Admission of the shares is expected to occur on 26 July 2011. Following Admission the Company will have 1,626,602,603 Ordinary Shares in issue.

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About Quindell Portfolio Plc

Quindell, which was founded in 2000, develops, provides and utilises its own multi-channel e-business based Enterprise Resource Planning and Business Process Management solutions and related services to facilitate efficient and effective management of customer acquisition and servicing within finance, insurance, telecoms, utilities and other related industries. Quindell provides consultancy on, and fully utilises its technology within its own Business Process Outsourcing operations, online strategies, permission based marketing, membership models and cross selling to maximise revenue per customer.

For further information, please visit www.quindell.com