Dividend Access Plan

The Dividend Access Plan enables UK resident shareholders of Beazley plc to be paid dividends from a UK source with consequential UK tax treatment. UK resident individual shareholders are likely to wish to participate in the Dividend Access Plan because they will receive a tax credit on the dividend and the resulting tax charge will be less than if paid directly by Beazley plc.

Further details of the Dividend Access Plan are set out in the Circular which includes the rules of the Dividend Access Plan.

If you hold 300,000 or fewer shares in Beazley plc you will be deemed to have elected to participate in the Dividend Access Plan. For other shareholders looking to participate in the Dividend Access Plan, shareholders should complete, sign and return the Election Notice to the Registrars (c/o Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA) Shareholders are entitled to join the Dividend Access Plan at any time. Dividends will be paid on the basis of the Dividend Access Plan if the Jersey Registrars receive a complete signed Election Notice prior to the record date of that dividend.

If you are in any doubt as to the action you should take you are recommended to seek your own independent financial and tax advice from an appropriate independent financial adviser.

Shareholders who wish to withdraw from participation in the Dividend Access Plan should complete, sign and return the Withdrawal Notice.

An Election Notice or a Withdrawal Notice and a copy of the rules relating to the Dividend Access Plan are also available at any time on request from Beazley's Registrars (c/o Aspect House, Spencer Road, Lancing, West Sussex, BN99 6DA).

Please note that the first dividend to paid under the dividend access plan will be the interim dividend for Beazley plc for the six months ending 30 June 2009.