EQECAT US Offshore Energy Model Updated Using New ABS Consulting Gulf Of Mexico Hurricane Vulnerability Research

Oakland, CA

March 10, 2008

EQECAT, Inc., a subsidiary of ABSG Consulting Inc. (ABS Consulting), and the leading authority on extreme-risk modeling, said today that a joint analysis with ABS Consulting has enabled refinement of the EQECAT US Offshore Energy Model. The refinements utilized recent operator damage data and information regarding practices for the mobile assets in the Gulf of Mexico.

"ABS onsulting is a leading independent provider of risk management and engineering services and has extensive experience working with energy companies," said Bob Healy, senior vice president of ABS Consulting. "As a result, EQECAT is the only modeler able to combine extreme-risk modeling expertise with in-house energy market engineering experience, to provide a new standard for modeling natural catastrophe risk in the Gulf of Mexico."

"Our goal is to provide the most advanced and comprehensive model to enable users to better understand and manage offshore energy property and business interruption risk in the Gulf of Mexico," said Mr. Healy. "We have been able to combine our direct engineering knowledge with updated information from energy operators to enable EQECAT risk modeling capabilities to deliver to clients the "best-of-breed" platform to understand, and manage these risks."

The joint analysis enabled the refinement of the damage vulnerabilities of certain key assets.

"Vulnerabilities for jack-ups have been increased to reflect practical limitations in raising platforms to maximum height to avoid wave damage, while vulnerabilities for drillships and semi-submersibles have been decreased in line with recent data on rig use," said James Webb, EQECAT's offshore energy product manager.

"In addition, the EQECAT model provides the ability to identify unique US Department of the Interior Minerals Management Service asset codes from platform asset names commonly provided in exposure data files. This facility enables essential data including platform production capacity and pipeline network connectivity data to be more accurately and automatically included in analyses. This simplifies the modeling process and helps generate better estimates of potential business interruption, contingent business interruption and control of well losses," said Mr. Webb.

"EQECAT is dedicated to keeping up-to-date on the changing nature of energy risk," said Mr. Healy. "With ABS Consulting's offshore expertise, we are in a position to gain critical insight into risks in the Gulf of Mexico. The ongoing effort provides our clients with the ability to differentiate and select risk more effectively, understand accumulation and meet their business goals," he said.

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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