Share Repurchase Programme

7 June 2011

Resolution Limited ("Resolution" of the "Company")

Share Repurchase Programme

The Company announces that it has entered into a non-discretionary arrangement with Barclays Bank PLC, acting through its investment banking division Barclays Capital, and Royal Bank of Canada Europe Limited (the "Joint Brokers"). The arrangement allows the Joint Brokers to purchase, independently of and uninfluenced by the Company, up to £250 million of ordinary shares in the Company during the period commencing on 8 June 2011 and ending on the expiry of the Company's existing shareholder authority to purchase such shares. These share purchases will be made on the Company's behalf and in accordance with the arrangement. The shares purchased will then be cancelled by the Company.

Any share purchases effected pursuant to the arrangement will be subject to the terms of the arrangement with the Joint Brokers and in any case will be effected in a manner consistent with both the general authority vested in the Company to repurchase shares and Chapter 12 of the United Kingdom Listing Rules, which require that the maximum price paid be limited to be no more than the higher of (i) 105 per cent of the average middle market closing price of the Company's ordinary shares for the five dealing days preceding the date of purchase and (ii) the higher of the price of the last independent trade and the highest current independent bid on the trading venues where the purchase is carried out.

A copy of this announcement is and will be available, subject to certain restrictions relating to persons resident in restricted jurisdictions, for inspection on the Company's website at www.resolution.gg. For the avoidance of doubt any other information contained on Resolution's website does not form part of this announcement.