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NOTE TO EDITORS (AS OF MONDAY, JULY 11, 2005, AT 5:15P.M. EASTERN TIME)

EQECAT Post- Hurricane Dennis Estimates Of Insured Losses

Insured Losses From Storm Could Range From $1 Billion To $4 Billion

EQECAT, Inc., Oakland, Calif., the leading authority on extreme risk modeling, Mondayafternoon (Eastern Time), said based upon current information, estimated insured losses resulting from Hurricane Dennis could range from $1 billion to $4 billion.

EQECAT’s latest estimate is based upon landfall by Hurricane Dennis on the western Florida Panhandle and includes damage concentrated in Santa Rosa and Okaloosa counties in Florida (Ft. Walton Beach is in Okaloosa county).

This update represents a reduction in the loss estimate from the July 10, which was based upon expected maximum sustained winds at landfall of 130 miles per hour. Today’s estimate reflects better observational information of wind speeds of 120 miles per hour at landfall. The assessment includes damage to residential and commercial structures--primarily from wind and flood. It includes damage to personal property, such as automobiles and boats.

EQECAT field teams will be sent to the impacted areas in coming days to make on-site inspections.        

EQECAT Representatives Available For Commentary

Representatives of EQECAT, headquartered in Oakland Calif., are available to provide commentary regarding damage assessments related to Hurricane Dennis. For additional information, please contact Eric Samansky, The Samansky Group, at 516-319-0858.

Hurricane Model is Part of WORLDCATenterprise™

The EQECAT U.S. Hurricane model, which is part of WORLDCATenterprise™, was recently re-certified by the Florida Commission on Hurricane Loss Projection Methodology for use in Florida. Primary insurers, reinsurers, intermediaries, and other financial institutions use the model to develop strategies for pricing, portfolio management, and risk transfer.

EQECAT Serves Global Clients Through Extensive WORLDCATenterprise™

Through its user-friendly, extreme-risk modeling software, WORLDCATenterprise™, EQECAT enables clients to assess and manage potential damage and loss from wind, earthquakes, flood, wildfire, and terrorism, among other perils. WORLDCATenterprise™ includes 167 natural hazard software models for 88 countries spanning six continents.

EQECAT, and its parent ABS Consulting, serve the global property and casualty insurance industry, major multinational corporations and financial institutions. EQECAT is known as the technical leader and innovator in the development of analysis tools and methodologies to quantify insurers’ and major corporations’ exposure to natural and man-made catastrophic risk.

EQECAT was founded in 1994. For additional information, please log on to www.absconsulting.com, or www.EQECAT.com.

For more information, contact:

Thomas Larsen
EQECAT, Inc.
1-510-817-3100 | tlarsen@absconsulting.com

Eric R. Samansky
The Samansky Group
1-516-319-0858 | eric@samanskygroup.com