Coventry Capital Receives FSA Authorisation, Launches Longevity Markets Platform

Expands Access to Growing Alternative Asset Class

LONDON, Oct. 5 /PRNewswire/ -- Coventry announced today that Coventry Capital
Ltd. has received authorisation from the Financial Services Authority (FSA) to
advise and arrange transactions on behalf of UK institutions.

This authorisation, and the company's exercise of its passport right to
provide similar services across the EEA, opens the door for institutions
throughout Europe to access the US longevity markets by investing in
'physical' life insurance policies, known as life settlements, as well as
structured notes or certificates and derivative transactions such as total
return swaps.

"We are pleased to extend Coventry's capital markets platform to Europe," said
Reid Buerger, Executive Vice President of Coventry. "Investors globally are
seeking to increase their allocations to alternatives and our integrated
platform provides unparalleled access to the low volatility and largely
uncorrelated performance of this asset class."

Coventry, which pioneered the model for large-scale institutional investment
in life settlements, has structured, serviced and originated in excess of $30
billion in longevity-linked transactions to date.

"Coventry is the only player in this space that has the expertise and
infrastructure to both originate longevity risk and to structure and service
longevity transactions in-house, delivering greater efficiency and
transparency for counterparties," said Michael Crane, Managing Director of
Coventry Capital Ltd.

As part of the expansion, Coventry has assembled an international team of top
capital markets professionals who are based in the company's offices in
Philadelphia, London and Hong Kong. These moves have positioned Coventry to
engage with institutions throughout the world's major financial markets.

About Coventry Capital

Coventry Capital is leading the development of the US longevity market by
offering investor and fund services to a wide range of institutions that
includes pensions, endowments, insurers and funds. The firm, which is
headquartered in Philadelphia and maintains offices in London and Hong Kong,
operates throughout major financial centers worldwide.

Media Contact

Stuart Wood
Director, Strategic Communications
215-836-8314
swood@coventry.com

Business Contact

Michael Crane
Managing Director, International Distribution
Tel. UK +44-20-7887-7881
Mobile +44-7827-444-288
mcrane@coventrycapital.co.uk

The content of this press release has been approved for communication in the
United Kingdom by Coventry Capital Limited, which is authorised and regulated
by the Financial Services Authority.

SOURCE Coventry Capital

Media, Stuart Wood, Director, Strategic Communications, +1-215-836-8314,
swood@coventry.com, or Business, Michael Crane, Managing Director,
International Distribution, UK, +44-20-7887-7881, Mobile, +44-7827-444-288,
mcrane@coventrycapital.co.uk