Cathedral's 2004 year of account will close with a profit of £33m before personal expenses. For a traditional Name this equates to a profit of approximately 11.6% on allocated share after managing agent's fee and profit commission, but before members' agent's fees.

The forecast 2005 year of account result is revised to -2.0% to 3.0% of capacity from the existing forecast of -4.0% to 3.0%.

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