Richard J. Matteis Named to ProMutual Group Board of Directors

Business Wire, June 11, 2001

Business Editors

BOSTON--(BUSINESS WIRE)--June 11, 2001

ProMutual Group, the leading provider of medical malpractice insurance in New England, has voted Richard J. Matteis to its Board of Directors.

Mr. Matteis presently serves as Executive Vice President of Service Delivery for The Equitable Life Assurance Society of the United States, which is the principal insurance subsidiary of The Equitable Companies Incorporated. He joined Equitable in February 1998 as a consultant and was elected to his current position in May 1998.

Prior to joining Equitable, Mr. Matteis held executive positions with Chase Manhattan Corporation, Chemical Bank, Manufacturers Hanover and Citibank. He has served on numerous Boards of Directors, including the Depository Trust Company, The Participants Trust Company, CEDEL Bank of Luxembourg and Bank Mendes Gans of Holland. He also served as Chairman of the Payments Risk Committee, which is a joint committee of major commercial banks and the New York Federal Reserve.

Mr. Matteis is the author of a Harvard Business Review article entitled, "The New Back Office Focuses on Customer Service." He earned his Master's degree in Industrial Administration from Yale University and is a Cum Laude graduate in Physics from Holy Cross College.

ProMutual Group provides medical professional liability insurance coverage to nearly 12,000 physicians, surgeons and dentists as well as hundreds of hospitals, health centers and clinics. The companies operate in Connecticut, Maine, Massachusetts, New Jersey, Rhode Island and Vermont.