Hardy Underwriting Group plc



RE: HARDY UNDERWRITING GROUP PLC
    USD 30,000,000.00
    MATURING: 15/Sep/2036
    ISSUE DATE: 19/Sep/2006
    ISIN: GB00B1DZGX30

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
15/Mar/2007 TO 15/Jun/2007 HAS BEEN FIXED AT 8.654880 PCT

DAY BASIS 92/360

INTEREST PAYABLE VALUE 15/Jun/2007 WILL AMOUNT TO:
USD 2,211.80 PER USD 100,000.00 DENOMINATION

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881



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