Trident Insurance Services, LLC and Millennium Insurance Group Form Partnership for Exclusive Insurance Program for Water & Sewer Utilities

SAN ANTONIO--April 28, 2004--Trident Insurance Services LLC, a wholly owned subsidiary of Argonaut Group, Inc. , announced the creation of a property and casualty insurance program designed specifically for public water and sewer utilities. Trident will partner with Millennium Insurance Group, a North Carolina-based company to provide program management services.

The program, effective as of March 6, 2004, is customized to offer, on a portfolio basis, general liability, public officials liability, employment practices liability, property, equipment breakdown, inland marine, crime and automobile coverages. Millennium is also offering workers' compensation coverage in companionship with the Argonaut property & casualty program. Initially this program will be offered in North Carolina, South Carolina and Georgia. However, it is expected that this program will soon be extended to other states.

The Millennium Water & Sewer program offers a comprehensive insurance package to public entities involved in water treatment and distribution. Mike Arledge, President of Trident Insurance Services, stated: "Millennium's knowledge of the marketplace, when coupled with a customized Trident product approach, is an exciting new alternative to what we believe is an underserved industry."

Trident Insurance Services, LLC, the public entity specific subsidiary of Argonaut Group, Inc., offers, through a network of independent agents and selected program managers, a diverse portfolio of customized specialty insurance products for public entities.

Members of Argonaut Group underwrite specialty commercial insurance in four major segments of the market: Excess and Surplus, Risk Management, Specialty Commercial and Public Entity. The Excess and Surplus segment provides coverage to insureds that have been rejected by standard lines insurers due to the risks related to their business. The Risk Management segment provides casualty risk management solutions to insureds who want to share in the risk and are committed to partnering in proactive safety and claims management. The Specialty Commercial segment provides tailor-made products and services for food merchants, restaurants, churches, dry cleaners and coal mines. The Public Entity segment provides P&C insurance to government entities, municipalities and school districts. Information on Argonaut Group and its subsidiaries is available at www.argonautgroup.com.