Offer Document Posted

RNS Number:1178J
Royal Liver Assurance
24 March 2003


Royal Liver Assurance Limited
24 March 2003


Not for release, publication or distribution into the United States, Canada,
Australia, Japan or the Republic of Ireland.


                              Recommended Offer by


                    PricewaterhouseCoopers Corporate Finance


                                  on behalf of


                    Royal Liver (IFA Holdings) plc ("Newco")


   a wholly-owned subsidiary of Royal Liver Assurance Limited ("Royal Liver")


                                      for


                        Park Row Group plc ("Park Row")
                      (formerly Birchin International plc)


In connection with the announcement made on 18 March 2003 of a recommended Offer
by PricewaterhouseCoopers Corporate Finance, on behalf of Newco, to acquire all
of the issued and to be issued share capital of Park Row, Royal Liver announces
that the Offer Document and Form of Acceptance relating to the Offer have been
posted to Park Row Shareholders today.

The Offer will be open for acceptance until 3.00pm on 14 April 2003.
Definitions used in the Offer Document have the same meaning in this
announcement.


Enquiries:

Royal Liver
Steve Burnett, Chief Executive                                     0151 600 4146

PricewaterhouseCoopers Corporate Finance
Graeme Johnston                                                    020 7804 5626
Gerry Young                                                        020 7212 4027


PricewaterhouseCoopers is authorised by the Financial Services Authority to
carry on investment business.  PricewaterhouseCoopers Corporate Finance, a
division of PricewaterhouseCoopers, is acting exclusively for Royal Liver and
Newco and for no one else in relation to the Offer and will not be responsible
to anyone other than Royal Liver and Newco for providing the protections
afforded to clients of PricewaterhouseCoopers or for giving advice in relation
to the Offer or any other matter referred to in this announcement.

The Offer is not being made, directly or indirectly, in or into, or by use of
the mails of, or by any means or instrumentality (including, without limitation,
facsimile transmission, telex or telephone) of interstate or foreign commerce
of, or any facilities of a national securities exchange of, the USA, or in or
into Canada, Australia, Japan or the Republic of Ireland and the Offer is not
capable of acceptance by any such use, means or instrumentality or facilities or
from or within the USA, Canada, Australia, Japan or the Republic of Ireland.
Accordingly, copies of this announcement will not be, and must not be mailed, or
otherwise distributed or sent in, into or from the USA, Canada, Australia, Japan
or the Republic of Ireland and persons receiving this announcement (including
custodians, nominees and trustees) must not distribute it in, into or from the
USA, Canada, Australia, Japan or the Republic of Ireland.



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