HWY Highway Ins.

    RNS Number : 0357E
  Shorewater Advisors LLC
  22 September 2008
   

                                           FORM 8.3                        
    DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE 
    (Rule 8.3 of the Takeover Code)


    1.    KEY INFORMATION

 Name of person dealing  (Note 1)                  Shorewater Advisors LLC
 Company dealt in                                  Highway Insurance Group PLC
 Class of relevant security to which the dealings  Ordinary
 being disclosed relate (Note 2)
 Date of dealing                                   22nd September, 2008


    2.    INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE

    (a)    Interests and short positions (following dealing) in the class of relevant security dealt in (Note 3)

                                                           Long          Short

                                        Number       (%)         Number    (%)

 (1) Relevant securities 

 (2) Derivatives (other than options)   1,924,214     ( 0.942%)

 (3) Options and agreements to
 purchase/sell

 Total                                  1,924,214    ( 0.942%)


    (b)    Interests and short positions in relevant securities of the company, other than the class dealt in (Note 3)

 Class of relevant security:                            Long             Short

                                            Number       (%)  Number       (%)

 (1) Relevant securities 

 (2) Derivatives (other than options)

 (3) Options and agreements to
 purchase/sell

 Total


    (c)    Rights to subscribe (Note 3)

 Class of relevant security:  Details





    3.    DEALINGS (Note 4)

    (a)    Purchases and sales

 Purchase/sale  Number of securities  Price per unit (Note 5)





    (b)    Derivatives transactions (other than options)

 Product name,   Long/short (Note 6)  Number of securities  Price per unit (Note 5)
 e.g. CFD                             (Note 7)
 CFD Swap        Short                208,627               72.1102 p





    (c)    Options transactions in respect of existing securities
    (i)    Writing, selling, purchasing or varying

 Product name,  Writing, selling,     Number of securities  Exercise  Type, e.g. American,  Expiry   Option money
 e.g. call      purchasing, varying   to which the option   price     European etc.         date     paid/received per
 option         etc.                  relates (Note 7)                                               unit (Note 5) 




    (ii)    Exercising

 Product name, e.g. call option  Number of securities  Exercise price per unit (Note 5)




    (d)    Other dealings (including new securities) (Note 4)

 Nature of transaction (Note 8)  Details  Price per unit (if applicable) (Note
                                          5)







    4.    OTHER INFORMATION

    Agreements, arrangements or understandings relating to options or derivatives


 Full details of any agreement, arrangement or understanding between the
 person disclosing and any other person relating to the voting rights of any
 relevant securities under any option referred to on this form or relating to
 the voting rights or future acquisition or disposal of any relevant
 securities to which any derivative referred to on this form is referenced. If
 none, this should be stated.  






    Is a Supplemental Form 8 attached? (Note 9)                NO


 Date of disclosure                                       22nd September, 2008
 Contact name                                            Charles Marais
 Telephone number                                        952-828-9300
 If a connected EFM, name of offeree/offeror with which
 connected
 If a connected EFM, state nature of connection (Note
 10)


    Notes

    The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk



This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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