Contract win in India

RNS Number:6012J
SSP Holdings PLC
11 December 2007


For immediate release                                           11 December 2007

                                SSP Holdings plc

                  Contract with United India Insurance Company

SSP Holdings plc ("SSP" or the "Group"), a market-leading provider of business
critical IT systems and services to the global insurance and financial services
industries, is pleased to announce that the consortium comprising of HP and SSP,
supported by Microsoft, has been awarded a contract by United India Insurance
Company ("UIIC") to provide its core Insurance IT solution for deployment across
UIIC's entire Indian business.

This is a ground-breaking agreement in the Indian marketplace as UIIC is one of
the four largest insurance companies in India. SSP's solution, which provides
for the installation, configuring and tailoring of the Sirius for Insurance
(S4I) application, will eventually support up to 18,300 employees that in turn
service over 10 million clients.

The agreement, which is for an initial period of seven years, will generate SSP
approximately $2.4m in licence fees and substantial future services, support and
maintenance revenues.

Fundamental to the solution is Microsoft, which sees this agreement as
ground-breaking in the insurance software arena. The SSP solution is entirely
architected in Microsoft technology with SQL Server at its heart. SSP will also
be implementing the e-trading framework via its highly successful e-commerce
solution, Nexus, built using Microsoft.Net, as part of a total business solution
to empower clients and agents of UIIC.

HP, which as the consortium leader has already contracted with UIIC, will be
responsible for the entire solution delivery, which encompasses document
management and general ledger components as well as the core SSP insurance
application. Contractual arrangements between HP and SSP have now been
finalised.

David Rasche, SSP Executive Chairman, commented:
"We are very pleased to have been selected for this major contract, without
doubt one of the most significant international agreements in the insurance
marketplace in 2007. The Indian market is undergoing substantial change; to be
at the forefront of this change in partnership with HP and Microsoft is a huge
endorsement of the SSP product and strategy and represents a material extension
of our geographic footprint."

Raju Sharan, the UIIC Finance Director, commented:
"UIIC has a desire to transform the way insurance business is transacted in
India and has selected SSP to act as a catalyst for this exciting change. We
look forward to working in partnership to achieve this ambition."

Charmaine Lewis-Wali, Manager of the Solutions Group within Microsoft India,
commented:
"There is no doubt that this is a landmark agreement both in the insurance and
the broader financial arena. We have been continually impressed by the pragmatic
and innovative use of our technology by SSP and their depth of expertise. This
agreement endorses Microsoft's strategy to partner with SSP in the insurance
arena in India and to underpin solutions that are truly mission critical - we
are delighted."

Bhushan Sharma, Country Sales Manager for HP FSI, commented:
"The consortium represents the best in class providers in this marketplace with
HP and SSP combining to form a compelling solution. SSP's depth of experience
with HP is clear and we have been impressed by the capability of the SSP team.
We are looking forward to working with SSP on this strategic initiative."

Enquiries:
SSP Holdings plc                                                    01422 330022
David Rasche, Executive Chairman
Nick Bate, Finance Director

KBC Peel Hunt Ltd                                                  0207 418 8900
Oliver Scott
Nicholas Marren

Weber Shandwick Financial                                          0207 067 0700
Nick Oborne / John Moriarty

About SSP

SSP is a market-leading IT systems and services provider to the global insurance
and financial services industries. With over two decades' experience, SSP has a
proud history of delivering innovative solutions that improve business control,
productivity and efficiency. SSP has the largest share, by revenue, of the UK
retail general insurance broker and intermediary systems market as well as the
largest installed base of general insurer systems in the UK.
SSP has a unique 'carrier to consumer' proposition whereby its solutions
facilitate communication and interaction across all participants in the
insurance chain, starting with insurance underwriters or agencies and ending
with consumers. At one end of the chain, the Group's solutions enable the
consumer to purchase insurance products through a range of channels including
intermediaries, brokers, call centres, affinity groups and the internet. At the
other end of the chain, the Group provides insurers with back office and
administration solutions.
SSP is the partner of choice for insurance businesses worldwide, with more than
31,000 users in over 50 countries. Customers include; Fortis, Admiral, Norwich
Union, AON, Brit, QBE, Zurich, ACE, RBS, HSBC Insurance Brokers, Jardine Lloyd
Thompson, Towergate, Swinton, Kwik Fit Insurance Services, Oval, Willis
Commercial Network and, most recently, United India Insurance Company.
Nearly 700 people support customers from headquarters in Halifax and offices in
Birmingham, the South of England, Northern Ireland, the Republic of Ireland,
Denmark, South Africa, Australia, New Zealand, Kenya, India and the United
States.

SSP is quoted on AIM and has a market capitalisation of approximately �115m.

About UIIC

UIIC was incorporated as a Company on 18th February 1938. General insurance
business in India was nationalised in 1972. 12 Indian insurance companies, 4
cooperative insurance societies and the Indian operations of 5 foreign insurers,
besides the general insurance operations of the southern region of Life
Insurance Corporation of India were merged with United India Insurance Company
Limited. After nationalisation United India has grown in leaps and bounds and
has a workforce of 18,300, spread across 1,340 offices, providing insurance
cover to more than 10 million policyholders. The Company has a variety of
insurance products, providing insurance cover for bullock carts to satellites.



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

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