Team Internet Regulatory News (TIG)



9 July 2014

The Innovation Group plc

('Innovation Group' or the 'Group')

South African Contract Renewal

The Innovation Group plc (LSE: TIG.L), a global provider of business process services and software solutions to the insurance, fleet, automotive and property industries, is pleased to announce that the South African subsidiary of one of the world's leading motor manufacturers has renewed its contract with the Group until 2017.

The contract will provide Innovation Group with estimated revenues in excess of £10 million (R180 million) over the period. It will see Innovation Group continuing to provide management services for the manufacturer including warranties, service and maintenance plans as well as the distribution and management of extended warranties and service plans.

The Group's division is responsible for managing similar services for over one million cars on South Africa's roads and the contract renewal further cements the Group's market leading position in providing these technologies in the region.

Andy Roberts, Chief Executive Officer of The Innovation Group, commented:

"We are delighted by the contract renewal in South Africa, which is evidence of our long standing relationship with the company since 2001. This further demonstrates how our insight-led technology has been a key component to clients' success and we look forward to continuing to maintain and build upon the opportunity in the region."

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About The Innovation Group plc:

Innovation Group (LSE: TIG) is a global provider of insurance software solutions and business process services. With revenues of £204.4m (US$332m) in 2013, it employs over 2,800 people across North America, Europe, Asia Pacific and South Africa and works with 15 of the top 20 global insurance markets, 16 of the top 20 global insurance companies and 3 of the world's top 5 fleet and lease management companies.

www.innovation-group.com