Frontier Insurance Group, Inc. Extends Filing of Form 10-K

Business Wire, March 30, 2001

Business Editors

ROCK HILL, NY--(BUSINESS WIRE)--March 30, 2001

Frontier Insurance Group, Inc. (Frontier) (OTCBB-FTER) announced today that it has filed a notification with the Securities and Exchange Commission to extend the deadline for filing its Form 10-K for the year ended December 31, 2000. Frontier plans to report fourth quarter and year-end financial results after the market close on April 16, 2001. Frontier also announced that there would be no quarterly conference call.

Special Note Regarding Forward-Looking Statements

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act") which are not historical facts and involve risks and uncertainties that could cause actual results to differ materially from those expected and projected. The words "believes," "anticipates," "expects" and similar expressions are intended to identify forward-looking statements which include, but are not limited to statements about when Frontier currently plans to report results. Such risks and uncertainties include, but are not limited to, the following: (i) the complex financial and regulatory issues surrounding year 2000 events; (ii) the ability of Frontier's auditors to complete their work on a timely basis (iii) the adequacy of the Company's reserving policies and of the Company's reinsurance programs; (iii) Frontier's ability to continue its insurance business; (iv) the future decisions of the State of New York Insurance Department; (v) the sufficiency of Frontier's reserves or that Frontier's reinsurer will meet obligations of the reinsurance agreement or will agree with Frontier on items to be recovered; and (vi) the ability to identify strategic options that would enable Frontier to continue its insurance business. Accordingly, there can be no assurance that the actual results will conform to the forward-looking statements in this release.