LONDON, July 23 /PRNewswire/ --     SSP Holdings plc ("SSP" or "the Company") (AIM: SSPH), a key
provider of IT solutions to the global insurance industry, and an entity
owned by funds managed or advised by the private equity firm Hellman &
Friedman LLC ("H&F") announced today that they have agreed the terms of a
recommended cash acquisition to be made by H&F of SSP at a value of
approximately GBP198 million, including the assumption of existing debt.
Under the terms of the acquisition, SSP shareholders whose shares are subject
to the acquisition for cash will receive 190 pence in cash for each share
they own in SSP.

Members of SSP's management team that own approximately 27% of
the Company support the transaction and will rollover a significant portion
of their current equity holdings in SSP.

SSP is a leading provider of IT systems and services to the
general insurance sector in the UK and selected international markets. With
over two decades' experience, SSP has a reputation for delivering innovative
solutions from "carrier to consumer", facilitating communication and
interaction between all participants in the insurance chain, from insurance
underwriters through to consumers. This unique proposition improves business
control, productivity and efficiency. More than 41,000 users in over 50
countries make SSP a partner of choice for insurance businesses worldwide.

H&F is a leading global private equity group specializing in a
variety of sectors, including software and information services, financial
services, and media.

David Rasche, Executive Chairman of SSP said, "I am pleased to
announce this transaction which recognises the significant value that has
been created for SSP shareholders since we floated the Company in October
2006. Many of our shareholders invested in the IPO at 98 pence per share and
will now realise a premium of approximately 94 per cent in cash over some two
years. This will be good news for our customers and staff as it will allow us
to retain talent in the business as we continue to expand over the coming
years."

Stephen Duckett, Managing Director of H&F, said "H&F is
delighted to have the opportunity to invest in SSP. We are excited about
supporting SSP's management team as they continue to successfully grow the
business and we look forward to helping them build on a well established
market position and strong customer relationships."

About Hellman & Friedman LLC

Founded in San Francisco in 1984, Hellman & Friedman LLC ("H&F
LLC") has raised and managed over $16.5 billion of committed capital and
invested in over 60 companies across three principal offices in London, New
York and San Francisco. H&F LLC is currently investing its sixth fund, with
$8.4 billion of capital commitments. H&F LLC has significant experience of
investing in software and insurance businesses; illustrative investments in
the software and insurance companies include: Iris Software Group, Kronos,
Intergraph, Vertafore, Activant and DoubleClick (software) and Geovera and
Paris Re (insurance).

For further information contact:

    For SSP Holdings plc -
    Nick Oborne/John Moriarty, Weber Shandwick
    Tel: +44-207-067-0700
    jmoriarty@webershandwick.com

    For Hellman & Friedman LLC -
    Hugh Morrison/Caroline Villiers, M:Communications
    Tel: +44-207-153-1521
    villiers@mcomgroup.com

    Steve Bruce/Monica Everett, The Abernathy MacGregor Group
    Tel: +1-212-371-5999
    SB@abmac.com / MCE@abmac.com