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NOTE TO EDITORS (AS OF MONDAY, AUGUST 29, 2005, AT 3:30P.M. (EASTERN TIME)

EQECAT Post-Landfall Estimates of Insured Losses From Hurricane Katrina on Gulf Coast

Insured Losses From Storm on Gulf Coast Could Range From $9 Billion to $16 Billion

Katrina Made Landfall East of Forecasts and at Category 4 Level

EQECAT, Inc., Oakland, Calif., the leading authority on extreme risk modeling, Monday afternoon (Eastern Time), said based upon current post-landfall information provided by the National Hurricane Center about Hurricane Katrina estimated insured losses could range from $9 billion to $16 billion. The drop in insured loss value reflects the storm weakening and landing further east than forecasts.

Hurricanes often make dramatic and unexpected changes in direction and intensity. Loss projections reflect these changing characteristics.

Storm surge (increased tidal heights forced by the wind and waves associated with the storm) coupled with the heavy rain, made flooding a major concern throughout the area.

EQECAT teams will travel through the Gulf Coast area, as soon as they are able to get into the affected areas, to make on-the-ground assessments.

EQECAT Representatives Available For Commentary

Representatives of EQECAT, headquartered in Oakland, will be available to provide additional commentary. For further 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