Results of GM

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

22 January 2014

AVESCO GROUP PLC

("AVESCO" OR THE "COMPANY")

RETURN OF CASH TO SHAREHOLDERS

and

APPROVAL OF SHARE BUY-BACK

RESULTS OF GENERAL MEETING

The Company announces that at its General Meeting held at 11.00 a.m. today, 22 January 2014, the resolutions set out in the circular published by the Company on 27 December 2013 in relation to the B/C Share Scheme and the Share Buy-Back (the Circular) were duly passed on a show of hands. The proxy votes lodged in advance of the General Meeting were as follows:

Resolution to approve the B/C Share Scheme:

Resolution to approve the Share Buy-back

Accordingly, Shareholders have approved the return of 110 pence per Ordinary Share to Shareholders by way of the B/C Share Scheme, in accordance with the terms and conditions set out in the Circular, and the terms of the contract in connection with the Share Buy-Back.

Elections

Shareholders are reminded that the election deadline under the B/C Share Scheme is tomorrow, 23 January 2014, at 1.00 p.m.

The procedure for making elections under the B/C Share Scheme depends on whether your Ordinary Shares are held in certificated or uncertificated form. Shareholders may elect for any combination of the Options in respect of their total holding of Ordinary Shares as at 5.00 p.m. on 23 January 2014.

Certificated Shareholders

If you are a Certificated Shareholder and you wish to elect for the Capital Option in respect of SOME or ALL of your B/C Share Entitlement, you should complete and return the Form of Election sent to you with the Circular, in accordance with the instructions printed thereon, as soon as possible by post using the reply-paid envelope provided (for use in the UK only) or (during normal business hours only) by hand but, in any event so as to be received by Capita Asset Services at Corporate Actions, 34 Beckenham Road, Beckenham BR3 4TU by no later than 1.00 p.m. on 23 January 2014.

If you wish to elect for the Income Option in respect of ALL of your B/C Share Entitlement, you should not take any action at all.

If you do not complete and return a valid Form of Election by 1.00 p.m. on 23 January 2014, you will be deemed to have elected for the Income Option in respect of ALL of your B/C Share Entitlement.

Full details on how to complete and return the Form of Election are set out in section 1 of Part IV of the Circular.

Uncertificated Shareholders

If you are an Uncertificated Shareholder and you wish to elect for the Capital Option in respect of SOME or ALL of your B/C Share Entitlement, you must give a valid TTE Instruction through CREST which must settle by no later than 1.00 p.m. on 23 January 2014.

If your TTE Instruction does not settle by 1.00 p.m. on 23 January 2014, you will be deemed to have elected for the Income Option in respect of ALL of your B/C Share Entitlement.

If you wish to elect for the Income Option in respect of ALL of your B/C Share Entitlement, you should not take any action at all.

Full details on how to make an election through CREST are set out in section 2 of Part IV of the Circular. The CREST Manual may also assist you in giving a TTE Instruction.

Notification of results of elections under the B/C Share Scheme

An announcement regarding the results of Shareholders' elections in relation to the B/C Share Scheme is expected to be made on 24 January 2014, after the Election Deadline has expired.

Unless the context otherwise requires, capitalised terms used in this announcement shall have the same meaning ascribed to them in the Circular.

Enquiries

For further information please contact:

Important information

Unless otherwise stated, references to time contained in this announcement are to London time.

This announcement is for informational purposes only and does not constitute an invitation to participate in the B/C Share Scheme in or from any jurisdiction in or from which, or to or from whom, it is unlawful to make such offer under applicable securities laws or otherwise.

No application has been, or will be, made to any investment exchange or trading platform for listing or admission to trading of the B Shares, C Shares or Deferred Shares to be issued under the B/C Share Scheme.

None of the B Shares, C Shares or Deferred Shares have been or will be registered under the United States Securities Act of 1933 (as amended) (the "US Securities Act") or the state securities laws of the United States and none of them may be offered or sold in the United States unless pursuant to a transaction that has been registered under the US Securities Act and the relevant state securities laws or a transaction that is not subject to the registration requirements of the US Securities Act and the state securities laws, either due to an exemption therefrom or otherwise. There will be no public offering of securities in the United States.