Share Buy-Back

Jelf Group plc

("Jelf" or "the Group")

Share Buy-Back

Jelf announces that on 4 July 2014 it bought back 100,000 ordinary shares of 1p each in the Group ("Ordinary Shares") at an average price of 118.94 pence per share ("the Purchase"). This Purchase was in accordance with the terms of its general authority to make market purchases of its own shares granted to it by shareholders of the Company on 21 February 2013. These shares will held in treasury.

The Company advises that, following the Purchase, the Company's issued ordinary share capital is 85,227,757 Ordinary Shares, of which 100,000 are held in treasury and the Company's total number of Ordinary Shares with voting rights is 85,127,757. The above figure of 85,127,757 may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.

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Jelf is an independent consultancy which provides a broad range of insurance, financial services and employee benefit services to corporates and individuals

Further information is available about Jelf at the Group's website: www.jelfgroup.com