Trenwick Group Ltd. Common Shares and the LaSalle Re Holdings, Ltd. Series A Perpetual Preferred Stock Expected to be Quoted on the OTC Bulletin Board

Business Wire, March 25, 2003

Business Editors/Insurance Writers

HAMILTON, Bermuda--(BUSINESS WIRE)--March 25, 2003

Trenwick Group Ltd. (NYSE:TWK) today announced that it expects that its common shares and the Series A Perpetual Preferred Stock of LaSalle Holdings Ltd. (NYSE:LSH_pa), its Bermuda-based subsidiary, will be quoted on the Over-The-Counter (OTC) Bulletin Board beginning today, Tuesday, March 25, 2003, under the symbols "TWKGF" for Trenwick common shares and "LSRAF" for the LaSalle Series A Perpetual Preferred Stock.

As previously announced, the New York Stock Exchange will suspend these securities from trading prior to the market opening today.

The OTC Bulletin Board is a regulated quotation service that displays real-time quotes, last sale prices and volume information on OTC equity securities. Information regarding the OTC Bulletin Board can be found at http://www.otcbb.com.

Background Information

Trenwick is a Bermuda-based specialty insurance and reinsurance underwriting organization with two principal businesses operating through its subsidiaries located in the United States, the United Kingdom and Bermuda. Trenwick's reinsurance business provides treaty reinsurance to insurers of property and casualty risks from offices in the United States. Trenwick's operations at Lloyd's of London underwrite specialty insurance as well as treaty and facultative reinsurance on a worldwide basis. In 2002, Trenwick voluntarily placed into runoff its U.S. specialty program business and its specialty London market insurance company, Trenwick International Limited, and sold the in-force business of LaSalle Re Limited.

Safe Harbor for Forward-Looking Statements

Certain statements made in this press release that are not based on current or historical facts are forward-looking in nature including, without limitation, statements containing words "believes," "anticipates," "plans," "projects," "intends," "expects," "estimates," "predicts," and words of similar import. Such forward-looking statements, including in particular Trenwick's forecast of future results, involve known and unknown risks, assumptions, uncertainties, and other factors disclosed in Trenwick's filings with the Securities and Exchange Commission that may cause actual results, performance, or achievements of Trenwick to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. In particular, forecasting of reserves for future losses is based on historical experience and future assumptions. As a result they are inherently subjective and may fluctuate based on actual future experience and changes to current or future trends in the legal, social or economic environment. Trenwick undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.