Quanta Comments on Independent Director Status

Business Wire, Dec 2, 2005

HAMILTON, Bermuda -- Quanta Capital Holdings Ltd. (NASDAQ: QNTA) reported today that it is in receipt of notification from NASDAQ regarding the company's status of recent non-compliance with the exchange's independent director requirement under Marketplace Rule 4350(c)(1). The notification follows Quanta's announcement on November 22, 2005 that Interim Chief Executive Officer, Mr. Lippincott is no longer considered an independent director and is stepping down from his position as a member of the audit committee. As noted in its 8-K filing on November 25, 2005, Quanta's Governance and Nominating Committee has commenced a search for an independent director to restore an independent majority to the board, and expects to fill that vacancy prior to its annual general meeting in 2006, as required under NASDAQ rules.

About Quanta Capital Holdings Ltd.

Quanta Capital Holdings Ltd., a Bermuda holding company, provides specialty insurance, reinsurance, risk assessment and risk consulting products and services through its subsidiaries. Through operations in Bermuda, the United Kingdom, Ireland and the United States, Quanta focuses on writing coverage for specialized classes of risk through a team of technically qualified underwriters. The company offers specialty insurance and reinsurance products that often require extensive technical underwriting skills, risk assessment resources and engineering expertise.

The statements contained in this press release may include forward-looking statements within the meaning of the federal securities law. Although the company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. As forward-looking statements, these statements involve risks, uncertainties and other factors that could cause actual results to differ materially from the expected results. These factors are detailed in the company's filings with the U.S. Securities and Exchange Commission. The company assumes no obligation to update or supplement forward-looking statements to reflect subsequent events or circumstances.