Wm. Rigg Co. Acquires Webber Insurance Agency; Dennis Webber Joins Rigg as Senior Vice President

FORT WORTH, Texas, May 26, 2004 -- Charles Reynolds, Managing Partner of Wm. Rigg Co. has announced that Wm. Rigg Co. has acquired substantially all the assets of the Webber Insurance Agency, a 19-year-old Fort Worth-based company that focuses on property and casualty for the auto and rental industries.

Mr. Webber has joined Wm. Rigg Co. as Senior Vice President.

"Based on growth expectations, the Wm. Rigg Co. and Webber Insurance merger provides a business direction that will be an excellent fit for us both," said Mr. Reynolds. "Dennis Webber's expertise and strong client base enable us to tap into a market that was formerly less accessible to us and extends Rigg's access to a strong position in the midstream tier."

Wm. Rigg Co. is a 109-year-old risk management and insurance brokerage headquartered in Fort Worth that provides services to mid-sized businesses across Texas.

Since 1990, Webber Insurance Agency has had an exclusive underwriting agreement with Zurich Programs (formerly Empire Insurance Companies), based in Omaha, Nebraska, part of Zurich, North America. Zurich, North America is headquartered in Schaumburg, Illinois, and is a member of Switzerland's Zurich Financial Services Group (ZURN on the Swiss Exchange).

The transaction closed on April 30, 2004. Terms were not disclosed.

"Joining forces with Wm. Rigg Co. immediately expands the range of products we can offer our existing clients," said Mr. Webber. "Our current customers will benefit from Rigg's broad commercial and personal line programs."

Dennis Webber and his eight employees are scheduled to move into the Rigg downtown Fort Worth office this summer.

Mr. Webber founded The Webber Insurance Agency in Fort Worth in 1985 and has experienced an annual growth rate of 15 to 20 percent. The agency provided property and casualty insurance to businesses primarily in the state of Texas although licensed to conduct business in as many as 18 other states throughout the country. Historically, the success of the Webber agency has come from insuring four niche business operation sectors: independent auto dealerships, recreational vehicle dealerships such as Bates Motor Homes in Houston, car rental operations like Capps Van and Car Rental and Advantage Rent-A-Car, and equipment rental dealers such as American Rental Services, Inc.

Dennis Webber, a veteran of the United States Air Force Reserve graduated from Texas Wesleyan University in 1975 after also briefly attending University of Texas at Arlington. Mr. Webber is involved in many trade organizations such as the Texas Independent Automobile Dealership Association (TIADA), and American Rental Association (ARA).

Wm. Rigg Co. was founded in Fort Worth in 1895. The multiple-line independent insurance agency offers commercial and personal property and casualty insurance and employee benefits to a wide range of businesses, industries, and individuals. The agency also has offices in Dallas and Houston and has 109 employees. Website is http://www.wrigg.com/ .

Wm. Rigg Co. is a subsidiary of The Rigg Group. The Rigg Group is a Texas holding company with interests in insurance, underwriting, brokerage, and premium finance. Other subsidiaries include Rigg Benefits and Financial Services, RISC Inc., American Financial Services Inc. (AFS), and IBEX Financial Services Inc. The group offices with Wm. Rigg Co. at 777 Main Street in Fort Worth.

RISC Inc. Underwriting Managers and Specialty Brokers is one of Texas's largest special purpose, excess and surplus lines insurance agencies. RISC headquarters are in Dallas. AFS, based in Dallas, and IBEX, based in California, provide insurance premium financing for insurance clients of agents and brokers.