EQECAT Updated Estimates of Insured Losses From Hurricane Dennis

Oakland, CA

July 10, 2005

EQECAT, Inc., Oakland, Calif., the leading authority on extreme risk modeling, Sunday afternoon (Eastern Time), said based upon current information provided by the National Oceanic and Atmospheric Administration (NOAA) about Hurricane Dennis, which strengthened between mid-day Saturday and landfall Sunday, estimated insured losses could range from $3 to $8 billion.

Hurricanes often make unexpected and dramatic changes in direction and intensity - both strengthening and weakening.

The EQECAT estimate is based upon landfall on the western Florida Panhandle.

EQECAT, Inc. provides state-of-the-art products and services to the global property and casualty insurance, reinsurance and financial markets. EQECAT is the technical leader and innovator of catastrophe risk management models that quantify exposure to a range of natural and man-made catastrophic risks.

Through its modeling software platform, WORLDCATenterprise™, EQECAT enables clients to quantify and manage the potential financial impact of natural hazards. WORLDCATenterprise includes 181 natural hazard software models for 95 countries spanning six continents. These models are based upon innovative applications of the latest science, engineering expertise, claims and exposure data and advanced mathematics.

EQECAT, a subsidiary of ABSG Consulting Inc., was founded in 1994 and is headquartered in Oakland, California.

For more information, contact:

pr@eqecat.com

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