Lindsey Morden Agrees To Purchase Ellis & Buckle

Lindsey Morden Group Inc., Toronto, has agreed to purchase Ellis & Buckle ("E&B") of London, England from Rutland Trust PLC ("Rutland") for an acquisition value of 60 million pounds. E&B is a claims adjusting and loss management services firm in the United Kingdom.

E&B has about 1,200 employees in some 50 offices. Upon completion, the operations of E&B and of Lindsey Morden's Cunningham UK subsidiary will be combined.

Completion of the purchase is subject to closing and other conditions, including the receipt of applicable regulatory and other approvals and approval of the shareholders of Rutland. Closing is expected by November 1998. Assuming completion of the purchase, Michael Langdon, deputy chairman and chief executive of Rutland, would join the board of directors of Lindsey Morden by April 30, 1999.

Lindsey Morden Group Inc. is a holding company which, through its subsidiaries, provides a wide range of independent claims adjusting, appraisal and loss management services through a network of 304 branches in Canada and the United States, and through its Hambro Insurance Services Group subsidiary, offers similar services worldwide and provides telephone helplines and other assistance services in the United Kingdom.