Quindell Portfolio PLC Completes Acquisition

Quindell Portfolio PLC announced that it has completed the acquisition of the group of companies comprising Overland Health (Overland Health) a full-service, integrated, rehabilitation supplier to the insurance industry as previously announced on April 19, 2012. The terms of the acquisition values Overland Health at GBP14 million and has been satisfied by the issue of 140,000,000 Quindell shares. This valuation has been calculated on a multiple of 6.5 times Overland Health's targeted profit after tax of GBP2.16 million for the twelve-month period ending December 31, 2013 (the Target Profit). The shares are subject to lock in of between 12 and 36 months from the date of issue. In the event that Overland Health misses its Target Profit, the Group will receive compensation from the vendors in the form of cash equal to 6.5x the shortfall.