Proposed Acquisition

RNS Number:2993I
Kiln PLC
05 March 2003


                                   Kiln plc
                       Proposed acquisition of interest


Kiln plc wishes to inform shareholders of the following announcement made today
by W. R. Berkley Corporation with regard to its intention to form an insurance
company to be authorised in the United Kingdom.

W. R. Berkley Corporation (NYSE: BER) announced today that it intends to form a
United Kingdom authorized insurance company.  It is expected that the enterprise
will be London-based and will specialize principally in writing domestic U.K.
casualty risks.  It is anticipated that the company will commence operation in
the third quarter of 2003.  The formation of the company is subject to certain
approvals, including the approval of the U.K. Financial Services Authority.

Stuart Wright, former Director Professional Liabilities of ACE Global Markets,
has been engaged to be the company's chief executive officer.  Mr. Wright has
over 20 years' experience in the casualty insurance business.

Kiln plc, the London based insurance and reinsurance group in which W. R.
Berkley Corporation currently holds 20.1% of the share capital, is in
discussions with W. R. Berkley Corporation about holding a minority interest in
the company.

Founded in 1967, W. R. Berkley Corporation is an insurance holding company which
operates in five segments of the property casualty insurance business: specialty
insurance, alternative markets, reinsurance, regional property casualty
insurance and international.

Kiln plc announces that discussions are taking place between W. R. Berkley
Corporation and Kiln plc with regard to Kiln plc holding a minority interest in
the insurance company to be incorporated by W. R. Berkley Corporation in the
United Kingdom.  The investment will be subject in due course to the approval of
Kiln plc's shareholders.

Kiln's current intention is to finance the investment without recourse to
shareholders.

Kiln plc will make a further announcement and will seek approval of its
shareholders in due course.


                                                                    5 March 2003

Enquiries:

Kiln                                              Tel: [phone]
Edward Creasy, Chief Executive Officer

College Hill                                      Tel: [phone]
James Henderson




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