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16 October 2009

Innovation Group plc

Multi year Contract signed with UK Mutual Financial Services Organisation

Innovation Group plc ('Innovation Group') (LSE: TIG.L), is pleased to announce the signing of a three year contract totalling £3.6m with one of the UK's largest friendly societies and mutual financial services providers.

The contract covers a range of IT services including hosting that will be provided out of Innovation Group's UK data centres. The contract starts in October 2009 with revenue recognisable over the contract period. 

Welcoming the contract win Hassan Sadiq, Innovation Group Chief Executive Officer commented:

"This new contract demonstrates that the breadth and depth of our technology and service offerings are increasingly attractive to leading organisations in the insurance sector."

Enquiries:

Innovation Group Hassan Sadiq, Chief Executive Officer Jane Hall, Group Finance Director	Tel: +44 (0) 1489 898300
Financial Dynamics Juliet Clarke / Matt Dixon / Erwan Gouraud	Tel: +44 (0) 20 7831 3113

About Innovation Group

Innovation Group plc (LSE: TIG.L) is the leading provider of enterprise software, business process outsourcing and repair and service network management solutions to the global Property and Casualty industry. Innovation provides contact centres, repair networks, process management, supply chain and technology operations, and decision support analytics, to support accident management, repair and estimation and claims management services. 

Innovation has over 1,000 global clients including AXA Insurance, RSA, AAA NCNU, LeasePlan, The Ford Motor Company, Aviva, Toyota (South Africa) and Zurich (UK). The Group processes more than 4 million claims per year with 20% direct claims cost saving achieved. Our 2,400 people are located in United Kingdom, Australia, Belgium, Canada, France, Germany, Japan, Netherlands, Pakistan, South Africa, Spain, United States. 

www.innovation-group.com

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