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09 August 2010

SL Creates TEPs Super Power with Acquisition of Policyplus and Freetrawl

SL Investment Management (SL), one of the largest full service Traded Endowment Policy and Life Settlement product providers outside the US, has boosted its market share by acquiring the business of former competitor, PolicyPlus. As part of the purchase, SL also acquires Freetrawl, the online endowment trading platform for Financial Advisers.

SL will now have the broadest possible offering in the TEP market to IFAs, and also to policyholders wishing to value and sell their endowments. The acquisition of Freetrawl will complement SL's existing investment in the TEP Exchange, together providing sophisticated bidding platforms for IFAs looking to sell policies on behalf of their clients.

SL's Chief Executive, Jeremy Brettell says:  "PolicyPlus is a long standing competitor in the TEPs market and one that we have admired and worked with cooperatively over the years.  We are delighted to be able to combine the expertise of both companies."

Ann Looker, previously Chief Executive for PolicyPlus says: "Trading as "Surrenda-link", SL has enjoyed the same longevity and gravitas in the TEPs market as PolicyPlus.  Strategically, our two businesses are a very good fit, but as we have shifted our corporate focus to other business areas we are delighted that SL has acquired the business, brands and assets of PolicyPlus and Freetrawl, to continue to grow and develop it in the secondary life markets."