Corporate Action

United Overseas Group PLC 12 July 2001 CAPITAL REORGANISATION SECURITY TITLE *Ord Shs MNEMONIC CODE *UOG SEDOL CODE *918-136 TERMS *Each Ordinary Share of GBP0.10 will be subdivided into 1 Ordinary Share of GBP0.01 and 9 Deferred Shares of GBP0.01 PROVISIONAL EFFECTIVE DATE *31-07-01 NOTES * The effective date for the Capital Reorganisation is subject to approval at the EGM.