Cardiff-based Composite Legal Expenses reports a dramatic increase in profits for the year
ending December 2002 with pre-tax profits of £2.13million (£463,758 in 2001), reflecting
strong but profitable growth in all areas of its operations.

2002 saw a quantum leap in turnover from £2.80million in 2001 to just over £14million in
2002, representing the equivalent in gross premium of £30million

John Mullin, Composite's Managing Director, says:

"It's all down to having a great team, a real focus on the customer and building close
relationships with our business partners - insurers, brokers, banks and solicitors. Combine
this with a really low cost base and we have the recipe for success.

"The proof of the pudding has been our winning two awards over the last twelve months -
one for our applied use of technology and the other for our call centre service - each time
beating well known national brands.

"2003 has all the earmarks of this trend continuing."

Established in 1996, Cardiff-based Composite Legal Expenses is one of the UK's leading legal
expenses insurance providers for both Before and After The Event business, is a major
provider of event litigation funding and offers 24/7 help-line facilities. It also specialises in
providing bespoke schemes solutions to organisations such as The British Chambers of
Commerce and the Home Office Scheme for Special Constables.

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