DIVIDEND DECLARATION

Notice is hereby given that an Interim Dividend of Rs.0.85 per share in respect of the half year to 30^th June 2006 has been declared payable to shareholders of the Company registered at the close of business on the 24^th May 2006.

The dividend will be paid on or about 26^th June 2006.

The shares of the company will be traded cum-dividend up to the market day of 19^th May 2006 and ex-dividend on 22^nd May 2006.

By order of the Board

Caryl Rey

For and on behalf of

Corporate and Secretarial Services Centre Ltd.

5^th May 2006

This notice is issued pursuant to Listing Rule 11.3

The Board of Directors of Mauritius Union Assurance Co. Ltd. accepts full responsibility for the accuracy of the information contained in this notice