TRA – TURNERS INSURANCE BUSINESS ACQUISITION MOTORPLUS

TURNERS STRENGTHENS INSURANCE BUSINESS WITH ACQUISITION OF INSURANCE AGENT, MOTORPLUS Integrated automotive financial services group, Turners Automotive Group Limited (NZX/ASX: TRA), has added to its insurance network, with the acquisition of insurance agent, Motorplus NZ Limited, and employment of owner, Wendy Fenning, as Business Development Manager for DPL Insurance. Wendy has almost 30 years' industry experience and has owned and operated Motorplus, which has been an underwriting agent for DPL Insurance for three years, of the 17 years Motorplus has been in operation. She will continue to manage the Motorplus Agent network and will support growth and development opportunities for DPL. Group General Manager Insurance for Turners, James Searle, said: "DPL Insurance and Motorplus have had an underwriting partnership for the last three years, and this is a natural step to further combine forces and simplify the arrangements. Motorplus agents will continue to receive the great service and support from Wendy, but with the backing and resources of the larger DPL/Autosure team. "The transaction is in line with Turners' strategy to create scale and deliver benefits for dealers and their customers. Wendy's experience and networks, combined with the resources of DPL Insurance, add to our ability to continue growth, innovation and development in the market." Motorplus currently has about 6,000 policies in force. These will transfer to DPL following the acquisition which is due to settle on 1 August 2017. ENDS About Turners Turners Automotive Group Limited is an integrated financial services group, primarily operating in the automotive sector www.turnersautogroup.co.nz For further information, please contact; Todd Hunter, Chief Executive Officer, Turners Automotive Group Limited Mob: 021 722 818 Media Liaison and Assistance: Jackie Ellis, Mob: 027 246 2505 End CA:00305322 For:TRA Type:GENERAL Time:2017-08-10 11:10:56