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7 November 2007

R K Harrison acquires International Risk Consultants

R K Harrison Holdings Limited, the parent company of R K Harrison Insurance Brokers Limited, is delighted to announce the acquisition of Indemnity & Risk Management Limited, the parent company of International Risk Consultants (Europe) Limited.

IRC Europe is the leading independent trade credit insurance broker in the UK. The company provides consultation and tailored coverage to a wide variety of UK and international clients against the risk of bad debt due to the insolvency or protracted default of their customers. Founded in 1993, IRC Europe now employs over 50 staff, operating from offices in Glasgow, London, Birmingham and Leeds.

Paul Bridgwater, Chief Executive Officer of R K Harrison Holdings, said “IRC Europe has developed as an extremely strong business, recognised as a leading expert within this specialist field. As such they are an excellent addition to R K Harrison’s group of outstanding specialist teams and businesses and we are delighted to have them join us.

IRC Europe will operate as a standalone entity within the enlarged group, recognising the strength of the IRC Europe brand in their specialist field. I am confident that both R K Harrison Insurance Brokers and IRC Europe will benefit from significant cross selling opportunities as we bring each party’s expertise, products and services to bear for the benefit of our existing and prospective clients”.

Tracey L. Anderson and Alan J. Wallace, Joint Managing Directors of IRC Europe commented, “We are delighted to announce this positive development. As part of R K Harrison, IRC Europe will progress to the next stage in our evolution and have access to additional insurance disciplines. In particular, IRC Europe working with R K Harrison’s benchmark Political Risks & Credit Team will create a powerful tangible force within our sector.