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Press Release

Budget Group of Companies changes name to BGL Group

Immediate release: 9 July 2007

Peterborough – 9th July 2007 – The Budget Group of Companies, the UK's largest privately owned personal lines insurance broker, has changed its name to the BGL Group. The name change aims to reflect the increased breadth and diversity of the company, with six trading divisions: Budget & Dial, Junction, comparethemarket.com, Bennetts, Fusion and ACM ULR.

Established in 1992, the BGL Group has capitalised, through organic growth and acquisition, on the explosion of Internet-driven personal lines insurance sales. For the year ending June 2006 pre-tax profits were £22.2m, up 85 per cent on the previous year, while June 2007 profits are forecast to reach £40 million. The Group currently employs 2,255 people, and has created more than a thousand jobs in the past three years.

Peter Winslow, Chief Executive of the BGL Group, said: "The business has gone from strength to strength since its launch fifteen years ago. Each of the Group's six trading divisions has contributed to this success, sustaining our rate of growth both in profit and size. We feel that the name change represents the evolving nature of the business today, and the breadth of our offering to both consumers and business partners."

The BGL Group has recently been identified by the Sunday Times as one of 10 companies to watch, alongside the annual league table of Britain's 100 private companies with the fastest growing profits over a three-year period.