Prime Receives A.M. Best Rating Upgrade to 'B+' with a Stable Outlook

Business Wire, July 20, 2006

SANDY, Utah & CHICAGO -- Prime Holdings Insurance Services Inc. announced today that its property and casualty insurance subsidiary, The Prime Insurance Syndicate Inc. ("Syndicate"), was notified that as of today, the Syndicate received an increased A.M. Best rating of "B " with a stable outlook in financial size class V. In the notification, A.M. Best stated, "The rating reflects Prime Insurance Syndicate's strong capitalization, near-term operating plan to focus on profitable growth in its current business lines and the financial support received from its parent, Prime Holdings Insurance Services Inc.

Prime's president, Rick J. Lindsey, stated, "An A.M. Best rating of 'B ' provides Prime with the opportunity to conduct business with producers who have exclusions in their E&O policies concerning placing business with lower-rated carriers. The increased rating of 'B ' is verification of our strength and stability, and exceeds the requirements of most producers. We are moving quickly and steadily towards our vision for the company. Prime's decisive leadership, sensible management, and bottom-line performance are poised to receive ongoing recognition from the industry."

Prime Insurance Syndicate, a Prime Holdings Insurance Services Inc. company, is an excess and surplus lines insurance company serving over 42 U.S. states and territories with its own capacity and the remaining states with its authority from Lloyd's of London. Over 2,500 producers use Prime's products as solutions for their hard-to-place risks. Prime Holdings maintains a suite of excess and surplus lines service organizations offering underwriting, risk management, and claims services for agents, brokers, insureds, and alternative markets throughout the United States and Canada. Founded in 1992, Prime has formed strategic business relationships with some of the world's most powerful insurance companies including Lloyd's of London, General Cologne Re and Employers Re. For more information about Prime companies, visit www.primeis.com.

A.M. Best's Ratings are the industry standard measure of insurer financial performance. For the latest ratings, access www.ambest.com.