Update for shareholders

RNS Number:1739K
PRI Group PLC
17 April 2003



                                 PRI GROUP PLC
                            ("PRI" or the "Company")



Not for release, publication or distribution in or into or from the United
States, Canada, Australia or Japan.



                            Update for shareholders



On 15 April 2003 the Board of PRI ("the Board") updated shareholders on its
discussions with a number of potentially interested parties.  The Board also
informed shareholders, in that announcement, that one party had confirmed in
writing to PRI that it was considering making an offer for the entire issued
share capital of PRI at a premium to the current offer by Brit Insurance
Holdings PLC ("Brit").  This party has now informed the Board that it will not
be proceeding with an offer for PRI.  In addition, discussions with other
potentially interested parties have been terminated.



In light of the above, the Board intends to meet as soon as possible to discuss
the offer from Brit and will make a further announcement thereafter.





For further information, please contact:


PRI Group plc
James Nelson                                 020 7090 1200

Lexicon Partners
Angus Winther                                020 7743 6330

Weber Shandwick Square Mile
Susan Ellis                                  020 7067 0700





The directors of PRI Group plc accept responsibility for the information
contained in this announcement.  To the best of the knowledge and belief of such
directors (having taken all reasonable care to ensure that such is the case),
the information contained in this announcement is in accordance with the facts
and does not omit anything likely to affect the import of such information.



Lexicon Partners Limited ("Lexicon"), which is regulated in the United Kingdom
by the Financial Services Authority, is acting as financial adviser to PRI Group
plc and no other party in connection with the offer.  Lexicon will not regard
any persons other than PRI Group plc as its client in relation to the offer and,
accordingly, Lexicon will not be responsible to anyone other than PRI Group plc
for providing protections afforded to clients of Lexicon or for providing advice
in relation to the offer.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

MSCBXGDSLSBGGXR