Old American Insurance Announces Construction of New Facility

20 December 1999

    DALLAS, Dec. 20 -- Old American Insurance has begun
construction of Old American Plaza at the Sojourn Office Centre, a new,
state-of-the-art office complex.  The 41,000+ square-foot North Dallas
facility will house all of Old American's North Texas insurance operations.
    According to President Bob Reinarz, "This new facility will allow us to
continue to increase the level of service that we provide for Texas and
Louisiana independent agents and Managing General Agents.  The combined
headquarters will allow us to truly leverage the fantastic resources that we
have in our people."
    The negotiation for the facility and construction of Old American Plaza
was accomplished through Cawley International, a Texas-based, multi-faceted
real estate services firm.  Its affiliate, Wilcox Development is managing the
construction and tenant build-out according to plans developed by architect,
Hellmuth, Obata and Kassabaum.  The completion will mark the first time in
several years that Old American's Retail, Wholesale and Services divisions
have all been housed at the same location.
    "The phenomenal growth we experienced over the past few years required
that we branch out into temporary additional locations.  We are all very
excited about the opportunity to have our three operating divisions together
again.
    The design of Old American Plaza not only provides us an excellent
facility for 2000, but allows for the continued growth we expect for the
foreseeable future," stated CFO Tom McCall.
    Old American is a leading provider of non-standard auto insurance in Texas
through independent agents.  In addition, the organization is a leading
provider of Wholesale insurance products for Managing General Agents in
Texas and underwriting, claims and other services in Texas and Louisiana.